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Hello – In light of the new RMD tables for 2022: 1. Is this at all relevant for a non...

Hello – Prior to The Secure Act, it made sense for a spouse who inherited a retirement plan to roll-it...

As we enter tax season and consider last year’s transactions, it bears repeating: Roth IRA contributions can be recharacterized, Roth conversions cannot. A Roth IRA contribution can be recharacterized (changed) to a Traditional IRA contribution. The opposite is also true. A Traditional IRA contribution can be recharacterized to a Roth contribution. This can be done for any reason. As long as the recharacterization is done by October 15th of the year after the contribution, it is a perfectly acceptable transaction in the eyes of the IRS.

Client (Paul) father’s second wife, Lynn, was born in 1952 and died in 2015 (at age 63), leaving Paul’s father...

How does a beneficiary report an inherited IRA distribution on their 1040? Grandma left money to her 2 children and...

When my wife passed away in 2003 I opened a “stretch” IRA for my granddaughter aged 2. In 2004 she...

A client has pre-tax and after-tax contributions in his 401k Plan. He has retired and wants to roll the entire...

KING OF PRUSSIA, PA – January 13, 2021 – George Nichols III, President and CEO at The American College of Financial Services, announced today that Ed Slott, CPA, founder of irahelp.com, has been named Professor of Practice and will be joining The College faculty. In the position, Slott, America’s IRA Expert, will contribute to the Retirement Income Certified Professional® (RICP®) program and support The College’s current faculty focused on retirement distribution planning.

A client recently passed and had an IRA which he left to his to adult children as beneficiary. They recently...

A working 65 year old (contributing to his 401k) has a $500k traditional IRA, of which $50k is after-tax. He...