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Matrix Moments, by Matrix Partners India, is a podcast series dedicated to the founders, startups and all those within the ecosystem, through candid conversations on what we think it really takes to survive in this wild, wild startup world. In a world where we are endlessly engulfed with information in all its forms and sizes, this is our attempt to create, curate and bring to you the insights and reflections that we have had the luxury of having learned the hard way, through all the years s ...
Taxes, Roth Conversions/Contributions, Hardship Exceptions, and Inherited IRAs: Q&A #2101
Manage episode 281343849 series 2501672
By Jim Saulnier, CFP® & Chris Stein, CFP®, Jim Saulnier, and Chris Stein. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Jim and Chris answer listeners’ questions and discuss topics relating to taxes, Roth conversions, Roth contribution rules, hardship exceptions, and inherited IRAs.
(8:00) Bob, our in-house CPA, provides a talking point about skipping RMDs in 2020 and the possibility of a delayed tax penalty for those who withhold taxes in 2021.
(12:30) A colleague of Jim and Chris asks a question looking for clarification on the rules of Roth conversions.
(23:50) George from Washington asks how many times in one year he can move after-tax money from his 401k plan into a Roth IRA.
(28:00) A listener asks for help on a 60-day rollover and the rules about returning contribution amounts after distributing money to purchase an asset.
(40:30) An Ohioan listener wonders what exactly qualifies as an economic hardship exception in relation to 401k plans.
(53:00) A listener from Georgia asks about the distribution rules for inheriting an inherited IRA.
The post Taxes, Roth Conversions/Contributions, Hardship Exceptions, and Inherited IRAs: Q&A #2101 appeared first on The Retirement and IRA Show.
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