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TIMELY TAX TIPS: Avoiding 60-day Rollovers in 5 Easy Steps


BASKING RIDGE, NJ- Are you considering rolling over your current retirement savings plan to a traditional or Roth IRA this year? With the many benefits that IRAs have to offer, this may seem like a great idea.But, if not done properly, you could be subject to some costly penalties and fees, as well as face the possibility of having to pay taxes on the entire amount this year!One way to rollover funds to an IRA is through a “60-day rollover,” which is the distribution of funds from a qualifying retirement account to the account owner, who then has 60 days to redeposit the funds into another qualifying retirement account. With this approach to rollovers there is room for a number of errors. Find out how to avoid costly mistakes before you initiate any retirement account moves.  

Download “Avoiding 60-Day Rollover Mistakes in 5 Easy Steps” white paper now!

For professional assistance with your IRA rollovers, contact our office at 877-714-2362 to schedule a time to discuss.

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Walter Pardo is Managing Partner of WFP TAX PARTNERS that  utilizes their exclusive team of CPA’s to provide tax planning, preparation and filing services to clients. Located 106 Allen Road, Suite 104, Basking Ridge, NJ and serving clients across the country. Member of National Association of Tax Professionals and a Ed Slott Master Elite IRA Advisor.


The opinions expressed herein are the writer's alone, and do not reflect the opinions of or anyone who works for is not responsible for the accuracy of any of the information supplied by the writer. Click here to submit a Guest Column.

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