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Category Archives: IRA Education

Early IRA Withdrawals via 72(t) Payments

Occasionally, clients ask if they should use 72(t) payments out of their IRAs. Generally, some hardship requires a client to take this course of action, as he or she does not otherwise qualify for an early withdrawal exception. Of course, Kingdom Trust cannot recommend any such decision with one’s retirement account. But this provides us […]

Tax Day 2019 and How It Could Affect IRA Contributions

We’re about a month away from Tax Day 2019 (April 15). While many have already completed their tax returns, others will do so within the next month. Either way, it’s important to know how Tax Day could impact your Individual Retirement Account (IRA) savings. So, with Tax Day 2019 right around the corner, how could […]

Do You Have an Excess Contribution in Your IRA?

Many retirement investors maximize their IRA contributions up to the limit each and every year. The reality for these individuals is leaving no gaps in their retirement savings and positioning themselves for a greater retirement. It should be every saver’s intention to contribute up to the maximum limit to put themselves in the best financial […]

The Difference Between IRA Contribution Eligibility and Deductibility

IRA custodians like Kingdom Trust aren’t required to determine whether an IRA contribution can be deducted. Likewise, IRA custodians aren’t responsible for tracking IRA deductions. And while, yes, these areas should be discussed with your tax professional, Kingdom Trust is here to help, too. For starters, we can help IRA holders avoid confusing contribution eligibility […]

Is a Rollover from a Traditional 401(k) to Roth IRA Possible?

In a past post, we talked about what do with an orphaned 401(k). With job changes more frequent now compared to 50 years ago, determining what to do with 401(k) funds is a fact of life for the modern worker. However, even though the possibility has existed for over 20 years, many employer plans still […]

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