What You Need to Know About IRS Retirement Plans

The first thing that you need to know about IRS retirement plans is that not every investment for retirement is recognized by the IRS. To get the tax benefits that you deserve you must be sure that you are investing wisely and at least part of your contributions are covered under recognized IRS retirement plans. Some of the plans that the IRS recognizes include:

  • Roth IRA’s
  • Self-Directed IRA’s
  • 401K plans
  • 403b Plans
  • Government retirement plans
  • 409A
  • 457 plans

Typically, if you are an employee your employer is investing money for your retirement or matching your investment into retirement each month, but if you are self-employed or the employer than the burden of decision making falls on you.

Getting the Right Tax Benefits
The IRS tax law is confusing at best and a real challenge all the time. Understanding which tax benefits are related to which vehicles takes some expert input. The code is difficult to navigate and you do not want to find out too late that the benefits that you thought would be there are not. To ensure that you are using the tax code and retirement planning to your advantage you will need to:

  • Consult with an expert
  • Diversify your fund to get the most benefit
  • Plan, plan and plan some more

Expert direction is a necessity when it comes to retirement planning and the IRS. An experienced advisor can help you to make the right choices and take advantage of all the benefits that are available. The right advisor will help you to diversify your retirement fund so that you are getting tax advantages from several different sources.

What you really need to know about IRS and retirement is that there is nothing more important that planning with an expert!

Be the first to like.


    Pin It on Pinterest