As a result of widespread job loss during the coronavirus pandemic, many suddenly-unemployed persons who dipped into retirement accounts are saddled with outstanding loans from company savings plans.Advisers can play a valuable role in helping these clients by understanding how the “loan offset” rules work, how the CARES Act affects loan offsets, and how offsets differ from “deemed distributions.”
The real estate market is hot.It is a seller’s market in much of the country and buyers face challenges
The term “self-directed IRA” can be confusing, given that account owners choose whichever stock or mutual fund they want to buy within their IRA, and how much to purchase and how much to sell.
Both Roth IRAs and Roth employer plans have been available for many years, and by now most advisers and their clients, are aware of the substantial value of these accounts.Roth accounts can provide years of tax-free earnings and withdrawals.
While retirement savers may be aware of these benefits, many count themselves out too soon by mistakenly believing they are not eligible to contribute.
Do you have clients who took coronavirus-related distributions, or CRDs, in 2020?If so, they face an immediate decision about how to include the CRD in taxable income
In this video interview, Ed Slott, author of The New Retirement Savings Time Bomb walks through five actionable steps to protect your retirement savings from the taxman.
Time is running out to take advantage of certain retirement- and tax-related provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act which are set to expire on Dec.31, 2020.
