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Question: Would you kindly clarify the rule that governs the withdrawal period and the tax implication (if any) of RMDs from an inherited IRA? The SECURE Act and the IRS document 590B are not clear. Here is the situation: I have a traditional IRA with my granddaughter as the sole beneficiary. My understanding is that before the SECURE Act, inherited IRA's had to issue annual RMD's if the original owner was taking them. The SECURE Act seems to say that annual RMD's are no longer required to be taken by a non-spouse beneficiary, just as long as the account is fully distributed in the 10-year period.

2020 will be a year to remember for decades to come. In the world of tax and retirement planning, it’s...

The SECURE Act requires distribution of an IRA within 10 years of the owner’s death. For a minor beneficiary who...

Hi- We have a client with an non-deductible IRA he has been contributing to. The ND IRA currently has both...

Times are tough. Unemployment is high and bills are piling up for many. These realities have forced a lot of people to look for sources of extra cash. For many Americans, their IRA is their biggest, or maybe only, savings available. It may be tempting to consider tapping into it in these challenging times. Distributions taken before age 59 ½ are subject to a 10% early distribution penalty.

Q: I have two Roth IRAs at separate brokerage firms. I want to name my wife as beneficiary for one account...

Hello, On Simple IRA Plan, how often can a plan (the % matching, specifically) be amended? Thank you.

Question: Hi there! I have a quick question, so I thought I’d reach out to you to get your take on this. This year, IRA RMD’s have been waived, even for inherited IRA’s. That said, if a non-spouse inherits an IRA this year – and the new RMD rules dictate a 10-year withdrawal – but this year’s RMD is waived – does this year (2020) still count as year 1?

I have a client that is a named beneficiary on his deceased brother’s IRA. My client is 9 years younger...

An argument could be made that the easiest financial document to complete is the IRA beneficiary form. Yet somehow this basic information consistently gets overlooked, mishandled, lost or fouled up. It’s not rocket science. Don’t complicate things. Keep it simple if you can. Case in point: an attorney drafted a fancy addendum to a beneficiary form with all the necessary legalese and important letterhead and flourishing signatures.