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Say someone didn’t withdraw their full RMD in 2022.  The penalty would apply for the amount not taken in 2022,...

Instead of a 401K, client’s new company/employER is having its employees set up SEP IRA accounts so that the company/employER...

Husband was a designated beneficiary on a Roth IRA was was taking RMDs, then died in 2023.  Wife is now...

I am still confused after final ruling if grandchild has to take an RMD during the 10-year period. Grandfather died...

Year after year, this topic continues to bubble up. Confusion exists over when a QCD can be done in relation to the RMD. Qualified charitable distributions (QCDs) can offset all or a portion of an RMD (required minimum distribution). However, for whatever reason, the sequencing of these items (QCDs and RMDs) confounds people. Let’s set the record straight, starting with some QCD fundamentals:

With the imminent return to the White House of Donald Trump, the tax outlook is coming into focus. And the nation’s wealthiest taxpayers, who were facing a halving of the lifetime estate and gift tax exemption (currently $13.6 million) at the end of 2025, may have dodged a bullet.

A client held real estate in a traditional IRA that was sold. Legal fees incurred in connection with the sale...

Get ready! Several new 401(k) provisions from the SECURE 2.0 Act kick in on January 1, 2025. One that we’ve already written about is the ability of employees to make extra catch-up contributions in a year they turn age 60, 61, 62 or 63 by the end of the year. (This “super catch-up” also applies to SIMPLE IRA participants.) Here are two others:

I wanted you to revisit this topic. I am supposed to have a meeting with my father’s estate lawyer later...

If this questions is inappropriate for this forum, I understand.  I didn’t know where else to post it. My mother...