Contributing Articles

If you are working with an eye towards retirement or even semi-retirement, you are probably (hopefully) saving more than you could in the past in your retirement accounts.You may have paid off the mortgage and paid for college and other heavy expenses of raising children

In late March, IRS released IRS Publication 590-B, which contains the tax rules on withdrawing funds from individual retirement accounts.Normally this is a wrap-up of rules to use as guidance in preparing tax returns

From the SECURE Act to the CARES Act to the Tax Cuts and Jobs Act, a lot has changed in the last five years regarding retirement, income tax, and estate law changes and provisions enacted.As if retirement planning wasn’t already difficult enough for Americans to navigate, but with Congress constantly overhauling the tax system, it’s vital to be on top of the latest retirement and tax planning strategies.

Q: Early last year I took my 2020 required minimum distribution (RMD) from my IRA, but later in the year the tax law waived RMDs, so I returned the funds.By doing this, I thought this was all taken care of, meaning that I thought I was “zeroed” out with no tax due.

But now it's tax time, and I have two issues I'd like help on.

Although the new federal law called the Secure Act provides many advantages for people with retirement accounts, there also is a provision that can hurt beneficiaries who inherit those accounts. Good news: There are several possible strategies to reduce the financial harm.

Economic stimulus legislation enacted in 2020 offers a new opportunity for penalty-free IRA withdrawals—but taking advantage could be costly. And a 2019 law substantially altered IRA-withdrawal rules—but not for everyone, which seems certain to cause confusion.

It ain't no lie.Bob Dylan has sold his immense collection of songs

Time’s running out on coronavirus-related distributions. CRDs were created under the CARES Act but only for 2020 — technically only through Dec.30

With a president-elect Joe Biden heading to the White House, estate and gift tax exemptions could be on the chopping block next year.Even if nothing happens, these exemptions are slated to be halved after 2025.

Q: I'm 62, single, no children, self-employed.I'm slowly recuperating from COVID, although I'm a long way from recovered.

I have a Roth IRA and a rollover IRA