Discover the optimal timing for qualified charitable distributions (QCDs) and required minimum distributions (RMDs) to ensure you make the most of your charitable giving and minimize your tax liability.
The IRS’s new RMD rules are set to impact many IRA beneficiaries in 2025. Learn how this change could affect your inherited IRA and how to plan accordingly.
The year is flying by, and before we know it, 2025 will be here. With the arrival of the new year, several new provisions from the 2022 SECURE 2.0 law that impact retirement plans will become effective. One of the changes allows certain older participants in company savings plans and SIMPLE IRAs to make higher catch-up contributions.
If you were born in 1959, what is the first year that you must start taking required minimum distributions (RMDs)? That would seem like an easy question to answer, but because of a snafu by Congress, it isn’t quite so clear.
If you have both pre-tax and Roth accounts in a 401(k) (or a 403(b) or governmental 457(b)) and are subject to required minimum distributions (RMDs), be aware of new rule changes made in the 2022 SECU RE 2.0 law. The rules were clarified in the IRS RMD final regulations, which came out on July 18.
If you have both pre-tax and Roth accounts in a 401(k) (or a 403(b) or governmental 457(b)) and are subject to required minimum distributions (RMDs), be aware of new rule changes made in the 2022 SECU RE 2.0 law. The rules were clarified in the IRS RMD final regulations, which came out on July 18.
New rules require withdrawals over 10 years, but there are options. Here are some tips to maximize your inheritance and avoid a big tax hit.
The Ed Slott team answers thousands of IRA and work plan questions annually. Over time, certain inquiries repeat themselves. Here are the top 10 IRA and work plan confusions, along with the answers:
The holidays are approaching, so hopefully there’s some free time to pick up a new read. Here’s a list of our top picks.
You may also want to peruse the original list. Here’s the link.
Happy reading from the Retirement Daily team!
Does your employer offer both a traditional and Roth 401(k) and does your employer allow you the opportunity to do what’s called an in-plan Roth conversion?That’s a tactic whereby you would convert some or all the money in your traditional 401(k) into your Roth 401(k)
