IRA Rollovers Archives - Gumbiner Savett

Rolling Over your IRA? Be aware of potential penalties
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Rolling Over your IRA? Be aware of potential penalties

Succession Planning

Rolling Over your IRA? Be aware of potential penalties

By GS Editor|2017-05-24T13:42:14+00:00September 30th, 2015|Categories: Succession Planning|Tags: accounting and auditing firms in Los Angeles, Gumbiner Savett, IRA Rollovers, santa monica certified public accounting cpa firm|

If you are planning to move funds from one IRA account to another, be sure you understand new rules related to IRA rollovers. Old rules allowed taxpayers to rollover (transfer funds) from each IRA account once every 12 months, regardless of how many IRA accounts the taxpayer owns. This meant that a person with 4 separate IRA accounts could do 4 rollovers each year.

There is Still Time for Charitable IRA Rollovers
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There is Still Time for Charitable IRA Rollovers

News, Tax Planning

There is Still Time for Charitable IRA Rollovers

By GS Editor|2017-05-24T13:42:35+00:00January 16th, 2013|Categories: News, Tax Planning|Tags: accounting and auditing firms in Los Angeles, full-service accounting firm, Gumbiner Savett, IRA Rollovers, IRS updates, tax planning and compliance|

The American Taxpayer Relief Act of 2012 (ATRA) revives for 2012 and 2013 the opportunity to make tax-free IRA distributions (up to $100,000 per year) for charitable purposes. If you’re age 70½ or older, you can make a direct contribution from your IRA to a qualified charitable organization without owing any income tax on the [...]