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Father passed away in 2023 & took full RMD for the year. Beneficiary was his Trust. Before transferring the 403(b)...

If I pour too much water into a glass, removing liquid from a different glass does not correct the problem. The excess water must be removed from the “offending” receptacle. Such is the case with excess IRA contributions.

Regarding the Stretch IRA. Assume the following; The parent’s ROTH IRA is under a TRUST After Parent’s death, Son (who...

I am 70 years old and own a ROTH IRA account (Account 1) that has been open more than 5...

I am 70 years old and own a ROTH IRA account (Account 1) that has been open more than 5...

Hello! Some additional details: * Two distinct employers, serviced by two different companies, and both are direct rollover distributions of...

Bridging Social Security Gaps with Life Insurance

• Dollars for Dependents
• Family Maximum Rules May Limit Benefits
• Gap Years
• Widow(er)’s Penalty Beware
• Supplementing Life Insurance

Executive Summary

Advisor Mailbag

GUEST EXPERT:
Mark Annese,

Hi, I have conflicting information on the maximum contribution for a SEP for a sole proprietor in 2023. The stated...

If you take a taxable withdrawal from your IRA or 401(k) (or other company plan) before age 59 ½, you normally have to pay a 10% penalty in addition to taxes. But Congress continues to carve out exceptions to this penalty, and there are now 20 available. In Notice 2044-55, the IRS recently gave us guidance on the new SECURE 2.0 penalty exceptions for withdrawals from IRAs and workplace plans to pay emergency expenses and for victims of domestic abuse.

Greetings,  I have a client we are planning to start a 72t distribution mid year (Aug).  We are going to...