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Once again, IRS waives RMDs for beneficiaries subject to the 10-year rule
The new relief on required minimum distributions for this year builds on previous IRS relief for RMDs in 2021, 2022 and 2023.
James Caan estate case highlights rollover rules advisors need to know
An offer the IRS refused! The estate owes nearly $1 million in taxes and penalties.
An unexpected double tax break for 529-to-Roth rollovers
There’s a chance to do two 529-to-Roth rollovers this year – but only if the first one (for 2023) is done by April 15.
High stock values and layoffs combine for big tax breaks on company stock
With the net unrealized appreciation tax break, company stock can be withdrawn from a 401(k) in a lump-sum distribution and have its appreciation taxed at capital gains rates, rather than as ordinary income.
Planning for the largest IRA balances ever in 2024
Here are tactics to use this year given the opportunities for record stock values at the end of 2023.
Holiday gift tax planning for IRAs
The big tax benefits come in the way gifts can be used in conjunction with retirement accounts.
Year-end QCD mistakes to avoid
The great tax benefits of qualified charitable distributions can be forfeited if the rules aren't followed.
How to unravel complicated 2023 RMD rules
It’s no simple task to determine which clients are subject to required minimum distributions this year, and which aren’t.
Converting IRA to Roth is a financial gift
The switch can bring big state estate tax benefits, too.
IRS delays mandatory Roth catch-up provision until 2026
Agency announces needed SECURE 2.0 relief related to catch-up contributions made by higher-income employees.
Stop contributing to IRAs and 401(k)s
This decades-old strategy no longer works. It’s time to reduce IRA balances, not increase them.
IRS provides limited RMD relief
After the SECURE 2.0 Act's new rules resulted in confusion, the IRS issues notice providing relief on required minimum distributions.
Navigating ever-changing tax rules on IRAs
As laws and IRS guidance evolve, it’s crucial for advisors to stay on the leading edge of how inherited IRAs are affected.
Nonfungible tokens held in IRAs can trigger big tax hit
If clients are holding NFTs in their individual retirement accounts, review them to see which tokens are acceptable assets and which may be deemed a collectible under IRS guidance.
Incorrect RMD notices may result in distributions that aren’t exactly ‘required’
The problem arose from the passage of the SECURE 2.0 Act late last year, which didn’t give financial institutions time to update their systems.
Want to do a 529-to-Roth rollover? Read the fine print
Here’s why you need to read beyond the headlines and understand why this may be the most overhyped provision of SECURE 2.0.
SECURE 2.0 provides breathing room for RMDs
In addition to raising the age at which individuals must start taking required minimum distributions, the SECURE 2.0 Act also lowers the penalty for not taking an RMD.
RMD quirks that IRA beneficiaries face in ’23
The provisions of the SECURE and CARES Acts, and the related IRS rules, are creating even more confusion about which beneficiaries are subject to RMDs this year.
Giving funds in IRAs to charity with QCDs
A qualified charitable distribution is a direct transfer of traditional IRA funds to a qualified charity.
Which beneficiaries are subject to RMDs by year-end?
This list is longer than you might have thought, and it’s more confusing than ever before. And the penalty is still 50% if the RMD isn’t taken.
