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Dear Alan, I have clients who made excess $7,000 Roth IRA contributions for the 2019 tax year and haven’t withdrawn...

Question: Good afternoon. We have a client who was 19 years younger than her spouse. He passed away this year. We are planning to keep this as an inherited IRA for now. Can we move the assets to her own IRA at any time? Thank you, stay safe and have a great day, Julie

Congress has come up with what some are calling SECURE 2.0, or Son of SECURE — a bill entitled Securing a Stronger Retirement...

As we inch toward the extended 2020 tax deadline of May 17, many filers are still laboring over their returns. Some are completing the final return for a loved one lost in what was a brutal year. As is human nature, most taxpayers try to squeeze every last deduction and income-reducing item into their prior-year numbers. While maximizing all available and legal tax-cutting strategies is the proper way to file a return, be aware that not all tax benefits are available to all tax filers, especially after a person has passed away.

Double checking. Am I correct in assuming that if someone turns 50 this year, and otherwise qualify, they can contribution...

On May 5, the House Ways and Means Committee unanimously passed the Securing a Strong Retirement Act of 2021. According to lawmakers, the proposal is designed to pick up where the SECURE Act of 2019 left off and help increase retirement savings even more. The so-called “Son of SECURE” would make more big changes to retirement accounts. Here are some highlights:

The extended tax-filing deadline gives many Americans extra time to contribute to certain investment accounts for 2020. The IRS in...

last year i did in-kind rollover from brokerage tIRA to employer 457b ira. also did roth conversion, several months apart...

Hi Alan-iracritic Thank you for all the help during this process for me. To refresh, my mother passed away and...

Client made contribution to Non-Deductible IRA after filing taxes. Essentially, filed his taxes in March 2021 and made a 6,000...