Results for "IRA Alert"

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3 last-chance retirement moves for 2018

November 12, 2018

Most clients are aware that their required minimum distributions, or RMDs, generally must be withdrawn by year-end. But here are three more retirement tax moves advisers should remind clients about before the year closes. Complete rollovers...

Using an IRA to fund an HSA

October 9, 2018

Funds from individual retirement accounts generally cannot be rolled over to a health savings account, but there is a one-time exception for a qualified HSA funding distribution, or QHFD. An individual is allowed to transfer funds from an IRA...

Last chance to undo a Roth conversion

September 7, 2018

The new tax law ended Roth recharacterizations, effective for conversions done in 2018 and later years. However, there is still a window of opportunity to reverse 2017 Roth conversions. But that window is closing quickly: The last day to recharacterize...

Are Roth conversions after 70½ advisable? 5 factors to consider

August 9, 2018

The biggest benefit of a Roth conversion of an individual retirement account is the tax-free compounding over time. Those who are over age 70½ obviously have less time to make the upfront tax cost of a Roth conversion worth the benefit, given...

Where does the proposed indexing of capital gains leave retirement accounts?

August 1, 2018

There has been talk in Congress about indexing capital gains for inflation. This talk was largely under the radar until this week, when the story hit the front page of the New York Times. Its story says that the White House might try to make...

Can inherited IRAs be split in a divorce?

July 16, 2018

Can an inherited individual retirement account be split in a divorce? No one knows for sure, but it's already happening. This is a new phenomenon, and it may signal a developing trend in future divorce agreements, especially in light of the...

Defined-contribution plan loan and hardship distribution rules eased

June 8, 2018

401(k)s are for retirement, but some clients who are strapped for cash need access now for any number of reasons. Advisers can help by knowing the latest tax rules. Defined-contribution plans can offer loans and hardship distributions. While...

Divorce 2019: How to use IRAs and 401(k)s to ease future alimony planning

May 11, 2018

Under The Tax Cuts and Jobs Act, alimony will not be tax-deductible when paid under divorce and separation agreements executed in 2019 and later. And alimony will be tax-free to recipients. This turnaround from the current treatment of alimony,...

Post-tax-time IRA checkup

April 16, 2018

The due date for filing 2017 tax returns is almost behind us, other than for those clients filing extensions. Now would be a good time to do a post-tax time IRA check-up and make sure that nothing will be overlooked going forward in 2018. 2017...

4 warnings about using back-door Roth IRAs

March 15, 2018

More of your high-income clients can now move funds to Roth IRAs by using the so-called "back-door Roth" strategy. Unlike traditional IRA contributions, Roth IRA contributions have income limits, but this strategy allows funds to be moved to...

New tax law provides opportunity for tax-rate arbitrage on Roth IRAs

February 15, 2018

The new, lower 2018 tax rates have made Roth IRA planning more valuable for your clients. These lower rates provide a limited opportunity to help some clients profit from tax-rate arbitrage by capitalizing on the spread between 2017 and 2018...

Why aren't clients using QCDs? Help them!

January 17, 2018

The Tax Cuts and Jobs Act is in effect. You can help clients take advantage of tax savings with their IRAs —this is why they have you as an adviser. As far as tax savers go, this one is simple. Use qualified charitable distributions (QCDs)...

Avoid year-end RMD errors on retirement plans

December 5, 2017

Advisers should be taking these last weeks of 2017 to make sure that there are no oversights when it comes to required minimum distributions (RMDs) from IRAs and company retirement plans. Remind clients that there is a 50% penalty for missing...

Prepare clients for an untimely end to Roth conversion do-overs

November 9, 2017

The new tax proposal from Congress had a November surprise. The proposal includes a repeal of the Roth IRA recharacterization, which is the ability to undo a Roth conversion. I normally don't like to advise planning based on proposed law, but...

Retirement planning challenges under tax reform

October 13, 2017

During retirement, clients may be counting on certain deductions to reduce their taxable income, but under the latest tax proposal some of the biggest deductions are on the chopping block. Advisers will have to address what might happen, before...

Retirement benefits for military families

September 14, 2017

Veterans Day is coming in November, and there are retirement benefits for current military members who could use financial help. Financial advisers should pass this information on to clients and friends who might benefit from one of these retirement...

Planning Roth conversions during tax reform uncertainty

June 23, 2017

What will 2017 or even 2018 tax rules look like? Going into summertime it's starting to look like any major tax reform may not be effective until 2018. One thing is for sure, though: Roth conversions will be affected, both the conversions already...

4 ways to reduce RMD taxes

June 9, 2017

Required minimum distributions (RMDs) usually mean an increase in taxes. Here are four ways you can reduce this RMD burden for your clients. 1. Qualified charitable distributions (QCDs) QCDs should be in play for every IRA client 70 ½ or older...

5 costly inherited IRA mistakes

May 12, 2017

Inherited individual retirement account mistakes are expensive and often fatal, meaning they cannot be fixed like some other IRA mistakes can. Advisers should have their antennas up when an IRA owner dies and leaves the IRA to a non-spouse beneficiary,...

Help clients use qualified charitable distributions to save on taxes

April 14, 2017

Charitable IRA rollovers, technically known as qualified charitable distributions, save taxes. So why aren't clients taking advantage of them? We're not seeing many people using them, when most clients who qualify should be. This tax benefit...

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