Dennis C. Carroll, Esq.
Should I put my retirement account into a trust?
A trust can't own an individual retirement account (IRA) since a trust is not an individual. If you absolutely wanted to put the assets...
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Dennis C. Carroll, Esq.
Oct 20, 20201 min
How to save for retirement when I am not working?
If you're not working, and you're single, then you cannot contribution to a retirement account. However, if you're married, as long as...
Dennis C. Carroll, Esq.
Jan 21, 20201 min
I withdrew money from my retirement to buy a house, how will this affect my taxes?
That depends on the type of retirement account, how much you took out, and if you're considered a first-time homebuyer. A 401K withdrawal...
![Did the required minimum distribution [RMD] age for retirement accounts change, again?](https://static.wixstatic.com/media/nsplsh_6c686c744d47646f686338~mv2_d_5066_3648_s_4_2.jpg/v1/fill/w_1816,h_1364,fp_0.50_0.50,q_90,enc_auto/nsplsh_6c686c744d47646f686338~mv2_d_5066_3648_s_4_2.jpg)
Dennis C. Carroll, Esq.
Jan 14, 20201 min
Did the required minimum distribution [RMD] age for retirement accounts change, again?
Yes, if you turn age 72 in 2023 or later, then your RMD age is now 73. You can also contribute to your traditional IRA now, if you're...
Dennis C. Carroll, Esq.
Dec 12, 20191 min
Will my retirement payments be taxed in my employer's state if I move to another state?
No, retirement plan payments will be taxed in the state where you are a resident. Generally, you are a resident of the place that you...
Dennis C. Carroll, Esq.
Nov 26, 20191 min
Can I contribute to my retirement account after age 72?
Yes, starting in 2020, there is no age limit when contributing to your retirement accounts. You must still be working, however. Any...
Dennis C. Carroll, Esq.
Nov 18, 20191 min
What do I do with retirement accounts from old jobs?
If the client needs all or some of the money now, then we see how much more income tax they'd pay with this new money.
If the client doesn'
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