Newman Asset Management, LLC

I am in my 40′s and my traditional IRA is invested in 7 different stocks and 2 American mutual funds. The total value is around ,000., actually less than my original investment.

Can I have an IRA and also a 401K plan at the sametime?

I am planning on getting a Traditional IRA plan so I can put away 00 tax free for this year. However, my company may possibly introduce a 401K plan soon.

If I invest 00 in an IRA account this year, and if my company introduces a 401K plan a little later this year, am I allowed to contribute to both IRA & 401K plans in the same year?

FYI, my filing status is married filing jointly and my wife has a 401K plan at her work place.

Would appreciate any guidance here. Thanks.

I have a traditional IRA which contains TIPS (treasury inflated protected securities). How do I calculate taxes when converting the IRA to a Roth IRA?

I invested in real estate in 2005, but need to sell in 2009 or 2010. I believe the net loss will be aproximately 20k. I am worried that reporting that large of a loss will trigger an IRS audit, and I am wondering if anyone else has had a similar experience. I could hold on to the property for a few more years but it is steady losing money, and I sort of want to be done with it.
Yes I agree this is a rare occurrence. It is a self-directed IRA, not a traditional IRA.

I just realized that I contributed 00 to ROTH IRA for 2007, but I also contributed 00 to Traditional IRA. I assume it is not ok, but I don’t know what I should do now. I don’t think it will affect my refund, but do I still need to file corrections? Thanks for any help!

I have an existing traditional IRA and two 401k‘s from previous companies. I’d like to consolidate accounts.

Is there reason I should roll the 401k‘s into a rollover IRA instead of directly into my existing traditional IRA?

Are there any consequences regarding maybe later converting the IRAs to Roth IRAs later?