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Required Minimum Distributions: What You Need to Know As a financial advisor, I want to ensure you’re well-informed about Required Minimum Distributions (RMDs) and how they may impact your retirement planning. This article will cover key deadlines, calculation rules, and the consequences of not meeting RMD requirements. We’ll also discuss special considerations for inherited IRAs. … Continued

Among the many provisions in the multi-trillion-dollar legislative package being debated in Congress is a provision that would eliminate a strategy that allows high-income investors to pursue tax-free retirement income: the so-called back-door Roth IRA. The next few months may present the last chance to take advantage of this opportunity. Roth IRA Background Since its … Continued

The House Budget Committee voted to advance a $3.5 trillion spending package to the House floor for debate. We review the proposed changes.

With 2020 coming to a close, we have published our annual guide to all the key numbers for 2021 and we review 2020 charitable giving strategies.

The CARES Act has special rules for required minimum distributions, coronavirus-related distributions, and retirement plan loans. In late June, the IRS released Notices 2020-50 and 2020-51, which clarify many of the details for both retirement plan participants and sponsors.

There’s still time to make a regular IRA contribution for 2019. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2019 ($7,000 if you were age 50 or older on December 31, 2019).

Due to the Coronavirus pandemic, the due date for filing federal income tax returns and making tax payments has been postponed by the IRS to July 15, 2020.

This long-awaited legislation expands savings opportunities for workers and includes new requirements and incentives for employers that provide retirement benefits. Here are some of the changes that may affect your retirement, tax, and estate planning strategies. All of these provisions were effective January 1, 2020, unless otherwise noted.

The SECURE Act represents the most sweeping set of changes to retirement legislation in more than a decade. While many of the provisions offer enhanced opportunities for individuals and small business owners, there is one notable drawback for investors with significant assets in traditional IRAs and retirement plans.

Need more time to pay your 2018 taxes? Should you extend? Will there be penalties? Should you wait to file. Here are few tips and thoughts on what to do for your 2018 taxes.