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Secure Act 2.0: Its Highlights, Its Limitations
President Biden signed the Secure Act 2.0 after passage by both the House and Senate.That long-discussed package of changes to retirement savings rules aims to make it easier for Americans to build retirement savings and less costly to withdraw those savings.
Big Changes to 401(k) Retirement Plans Move Ahead in Congress
Congress is on the verge of passing a bill that aims to help Americans save more for retirement and leave their retirement savings untouched and untaxed for longer.
The bill nearing approval raises the age people are required to start withdrawing money from tax-deferred retirement accounts to 75 from 72.It increases retirement savings contribution limits for older workers and provides an increased incentive to people with low and moderate incomes to save in retirement accounts
New retirement bill means big changes for retirement and 529 plans
Big changes are likely coming for Americans' retirement savings. The changes, part of the Secure Act 2.0, were included in the sweeping end-of-year $1.7 trillion spending bill the Senate passed on Thursday. The package's future now rests in the hands of the House, which is expected to follow suit Friday.President Joe Biden is expected to sign the bill into law shortly after.
Last-Minute Charitable-Giving Strategies for 2022
Tax and IRA expert Ed Slott shares tips for earning a tax break on charitable contributions.
4 Ways Inflation Can Help Clients Cut Taxes in 2023
Financial advisors have a slew of new retirement and estate tax planning opportunities to capitalize on in 2023.Hit the ground running by communicating these ideas to your clients early in the year
The Ins and Outs of Tax-Loss Selling
Tax and IRA expert Ed Slott discusses the benefits of selling depreciated securities, along with must-knows about the wash-sale rule and cost-basis elections.
Tips on Taking Last-Minute RMDs in 2022
Tax and IRA expert Ed Slott says that people taking required minimum distributions may have a bit of sticker shock this year.
Are IRA Conversions in a Down Market a Good Idea?
Tax and IRA expert Ed Slott on when conversions can result in the greatest tax savings—and what to know before you execute them.
Giving funds in IRAs to charity with QCDs
Funds held in individual retirement accounts are without question the best assets to give to charity.Since IRAs are loaded with taxes, why not help clients relieve that tax burden by using the IRA for charitable giving now? Show clients who regularly give to charity how to use their IRA for those gifts