Site search

The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or workplace retirement plan. A CRD avoids the 10% early distribution penalty for those under 59 ½, can be repaid to a qualified retirement account within three years, and allows the account owner to spread the income (and subsequent taxes due) over a three-year period.

Between the Secure Act and the Cares Act, retirement savers and retirees are grappling with a number of changes designed...

Took a distribution from two different IRA accounts after 2/1/20. No distributions were previously taken in the 365 preceding days....

Because of the SECURE Act 2 years ago, I decided to bunch charitable contributions and do 3 years’ worth this...

Hello, I am a subscriber to your newsletter. I spoke to Glenda and she told me about your system for...

case -mom and dad die in their 70s in 2016, -they have 4 adult children (one of which (J) is...

Hello – With the 70.5 age limit now lifted for IRA contributions (SECURE Act), could a younger, still-working spouse (she...

Question posted: In December 2019 I instructed TransAmerica to Rollover 401(k) account funds to existing Fidelity IRA Rollover account. Unfortunately...

The recently passed CARES Act includes some changes that impact your HSA. These changes will allow you to access more medical services without worrying about your deductible, and also enable you to take more tax-free distributions from your HSA. Here’s what you need to know. Telemedicine Without Meeting Deductible HSAs are designed to work with a high-deductible plan. To be considered a high-deductible plan, a health plan must meet certain requirements. One of them is that the health plan cannot waive the deductible for medical expenses, unless they are considered preventative.

My 73 year-old client retired from a public library in December 2019, and in March we submitted a form to...