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Hello, My wife left the job in April 2022 and not worked for the rest of the year. When she...

Upon my passing, assume that my spouse disclaims $2.0MM of after-tax assets (sitting in my RLT), creates and places them...

I transferred my Traditional IRA from one custodian to another. This was the second attempt at a transfer because the...

Time is running out! The tax filing deadline is Tuesday, April 18. Why is this important? Because that is the last day an IRA can be opened and/or funded for the previous year. Even if a taxpayer files for an extension, that does NOT extend the prior-year IRA contribution deadline.

If you are converting assets from a TIRA to a Roth IRA account after age 59.5, there is a 5-year...

Despite the reduction in the penalty for missing required minimum distributions (RMDs) in the new SECURE 2.0 law, it looks like you will still be able to get the IRS to waive the penalty altogether. Before 2023, if you missed an RMD the IRS could impose a penalty equal to 50% of the missed amount. However, the IRS almost always waived the penalty if you took the RMD and filed Form 5329 (with a reasonable cause explanation) with the IRS.

I am helping my father navigate his taxes the year after my mother has died. My mother had two IRA’s–a...

Facts: 62-year-old Wife (W) died intestate on March 28, 2022, survived by Husband (63-year-old) (H), and two adult children. The...

I have a client who we recently rolled over their 401(k) to a Traditional IRA. Part of that rollover included...

Health Savings Accounts (HSAs) are rapidly growing in both size and in number. These accounts offer deductible contributions and tax-free distributions for qualified medical expenses. An HSA can be a valuable tool not only for paying for medical expenses but also for planning for your future. Here are 5 HSA rules you need to know.