Displaying 21 results
The last-minute IRA dash before Tax Day is real
Contributions to IRAs are up significantly this season for the 2023 tax year, according to Fidelity.
Biden’s budget targets backdoor Roths and $10M retirement accounts
The proposed budget seeks to increase taxes for corporations and the wealthy.
Want to roll a Roth IRA over to a Roth 401(k)? You can’t, yet
Congress is trying to address the incompatibility of the accounts as state auto-IRA programs proliferate.
Preparing for the future: How 529 plans have expanded in the past decade
Here's a list of the costs that have become qualified expenses for 529 plans in the past decade.
Stock market pullback puts spotlight on Roth conversions
With most broad market indexes nestled into correction territory, financial advisers are steering clients toward Roth conversions in a tax management move.
Average 401(k) balance dropped in Q3: Fidelity
At the same time, the average IRA balance saw a slight uptick. A recent survey shows many people have low estimates of how much they will need to retire, and a paper explores the need to update the 4% rule.
Wait-and-see works better than overreacting to possible tax changes
Listen to a particular client's needs rather than the noise in Washington, advisers said at the IN Retirement Income Summit.
House tax proposal would close door on popular back-door Roth IRA conversions
The Ways and Means Committee approved $2.3 trillion in tax hikes to pay for the Biden administration's sweeping social and climate spending plan.
Maine legislature passes auto IRA bill
The Maine Retirement Savings Program would allow private-sector workers to contribute to a Roth IRA from their paychecks. The bill has gone to Maine Gov. Janet Mills.
Roth conversions may not pay off until age 90 for most
Tax-rate changes have minimal effect on the financial benefits of Roth conversions, Edward McQuarrie, professor emeritus at Santa Clara University, wrote in a recent paper. The most important factor is actually compounding.
The Triple Crown tax benefits of 2021 Roth conversions
With potential tax changes on the horizon, here are the IRA moves to make now.
Beware: Enrolling in Medicare can nix contributing to an HSA
HSAs have no annual use-it-or-lose-it requirements, and balances can be carried forward from year to year and withdrawn tax-free in retirement to pay for medical expenses, such as Medicare and long-term care premiums — but not Medigap premiums.
Workplace retirement plans saw 12.9% average savings rate in 2019
Participants contributed 7.6% of their pay, while employers put in 5.3%, the survey finds
Advisers must examine college savings strategies to get clients to their goals
Schooling remains crucial for career prospects, but with tuition sky high many parents are questioning college savings and the value of an education
Keeping clients’ retirement plans on track amid uncertainty
Your guidance can help clients focus on the fundamentals when making financial decisions, regardless of the markets, the economy or partisan politics
Bob Dylan’s tax planning could be tangled up in … green?
The Nobel Prize-winning musician may have sold his song collection, but 'Don’t Think Twice, It’s Alright,' because it’s a good year-end tax strategy
Upholding the spirit of new legislation
Lawmakers have stepped in to provide relief to millions of Americans, but the laws come with unforeseen loopholes
Funding a Roth IRA with COVID-19 distributions? Not so fast, advisers say
There might not be a legal reason to avoid using CARES Act relief, but it's questionable at best
The most misunderstood Roth conversion tax rule
Qualified distributions are the holy grail for Roth IRAs, but there is confusion around the time requirements.
When is a good time to convert to a Roth IRA?
Breakfast with Benjamin: When it's OK to convert to a Roth IRA. Plus: Two emerge as Buffett successors; recognizing seasoned financial veterans, and Asian stocks get a boost from Chinese bankers.
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