IRAs

How a couple wrote off cat food and other breaks that boosted refunds. Plus, how charity counts toward an IRA withdrawal.

From a tax perspective, donating required minimum distributions from a traditional IRA to a qualified charity is a smart move for retirees.

A new comment period would give the administration time to prepare for legal challenges anticipated after it puts a delay into place, one expert says.

Small businesses would not be allowed to enroll their employees automatically in state-run plans under legislation introduced in Congress.

One way for clients to avoid or minimize their capital gains tax is to hold investments in tax-advantaged retirement accounts, such as IRAs and 401(k) plans.

Clients can fully deduct their IRA contributions if they have no access to a workplace retirement plan.

Early withdrawals from retirement investments can trigger a hefty penalty.

Many workers think hey are not allowed to contribute to a 401(k), a traditional IRA and a Roth IRA in the same year, which is untrue.

Clients who make these prohibited transactions can face devastating penalties.

First-time home buyers can withdraw as much as $10,000 from a Roth account without paying taxes and penalties if the account is at least five years old.