The House and Senate have passed "The Worker, Retiree and Employer Recovery Act of 2008". The President is expected to sign this legislation next week. We will review the Act in greater detail in a later release. For now, the Headline for IRA owners is:
The Act:
SUSPENDS IRA REQUIRED MINIUM DISTRUBITIONS FOR 2009
SUSPENDS IRA REQUIRED MINIUM DISTRUBITIONS FOR 2009
1. If you are over the age of 70½ in 2008, you must take your Required Minimum Distribution for the year.
2. The Act will not change your Required Start Date. (However, if your first Required Minimum Distribution was to have been in 2009, you will not be required to take that distribution.)
This will be a major benefit for two types of IRA owners:
A. Anyone who wants their IRA assets to recover before being forced to take a distribution.
B. Any person who wants to allow their IRA funds to continue to grow tax deferred.
B. Any person who wants to allow their IRA funds to continue to grow tax deferred.
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The IRA Club offers Self Directed IRAs and Checkbook IRAs for investors who seek to take control of their funds. A self directed IRA can be opened for as little as $49. To go to the IRA Club web site CLICK HERE.
Publisher by:
Dennis Blitz, President
Phone - 312-795-0988 Ext 11
Toll Free – 888-795-0988 Ext 11
E- Mail - dblitz@IRAclub.org
The IRA Club
Web Site - IRAclub.org
The IRA Club offers Self Directed IRAs and Checkbook IRAs for investors who seek to take control of their funds. A self directed IRA can be opened for as little as $49. To go to the IRA Club web site CLICK HERE.
Publisher by:
Dennis Blitz, President
Phone - 312-795-0988 Ext 11
Toll Free – 888-795-0988 Ext 11
E- Mail - dblitz@IRAclub.org
The IRA Club
Web Site - IRAclub.org
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