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Prospect- had 12k go in as a Roth for 2017 and 2018, prospect made too much money for a Roth,...

If a Parent has significant assets in 529s after educating their own children, can the Parent set up a way...

IRA Owner died at 82, spouse is 88. Will spouse have to take RMD’s based on her age after the...

I retired in 2017 and have not worked since then. I received a 2019 W-2 for the value of stock...

We have a 71 year old client that just retired. He has a $200k 401k and an 800k IRA. He...

FACTS: Client age 57, single, employed and contributing maximum each year to 401k plan, around $500k W-2 income most years....

My 83 year old widowed client passed away 2 weeks ago in February, she had been taking distributions for years...

The SECURE Act, an owner of an Inherited IRA, who is over the age of 70 1/2 can make a...

True or False? “It is mathematically impossible for an IRA account owner to have his first required minimum distribution (RMD) be due for the year 2020.” Here’s why this statement is true. First, we are not talking about inherited IRAs. If the account owner died in 2019, then the first RMD for the beneficiary needs to be taken by December 31, 2020. Inherited IRAs do not fit this statement. Next, we are not talking about workplace retirement plans – like a 401(k). The reason this statement does not apply to a 401(k) is because of the pesky “still-working” exception. If a plan has the still-working exception feature and an older employee separates from service in calendar year 2020, then the first RMD will also be due for 2020.

Two years ago I filled out a form with the following payment options from a non-government 457(b) deferred compensation plan:...