Converting your IRA from a tax loser to a tax winner

Converting your IRA from a tax loser to a tax winner

This article is a roadmap of what to do (and not to do) with your IRA If you make the beneficiary of your IRA your wife (say she is younger than you) her Required Plan Distribution will be smaller than yours Friendly life expectancy tables can make the RPD so small almost all of the IRA funds can grow Please remember that the enemy is a possible double tax on your IRA The goal of the tax strategy is simple: Turn the subject-to-double tax dollars in your IRA (or other qualified plans) into tax-fee dollars

We are all dealt the same cards in the tax game, but how you play them determines whether the IRS or you win. Sadly, most taxpayers play their IRA cards wrong. Result: Your family loses.

This article is a roadmap of what to do (and not to do) with your IRA. To cover every possibility would take a novel. So, we are going to zero in on the IRA problems most readers of this column call me about.

First, some basic rules

1. Almost all IRAs are "t

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TAGS: Taxes
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