Contributing Articles

There’s a chance to do two 529-to-Roth rollovers this year – but only if the first one (for 2023) is done by April 15.

Here are tactics to use this year given the opportunities for record stock values at the end of 2023.

The Roth IRA is the ultimate financial gift for retirees and their beneficiaries. Roth individual retirement accounts have no lifetime required minimum distributions, so you’ll never have to worry about paying higher future tax rates on those funds.

IRS released Notice 2023-62 on Friday giving employer retirement plans two additional years to comply with the controversial rule requiring that catch-up contributions for employees age 50 or over whose wages for the prior year exceeded $145,000 be made on a Roth basis.

Stop contributing to your IRAs and 401(k)s? That has to be a typographical error. After all, traditional retirement planning has always preached maximizing contributions to tax-deferred individual retirement accounts and 401(k)s to build retirement savings.

Once again, due to ongoing confusion about required minimum distributions, the IRS has found it necessary to give limited relief to both IRA owners and beneficiaries. The relief was contained in Notice 2023-54, issued Friday.

It’s no exaggeration to say that every time you turn around lately, there’s a new tax law or piece of IRS guidance that changes the tax and distribution rules for IRAs.

Financial advisors have a slew of new retirement and estate tax planning opportunities to capitalize on in 2023.Hit the ground running by communicating these ideas to your clients early in the year

Funds held in individual retirement accounts are without question the best assets to give to charity.Since IRAs are loaded with taxes, why not help clients relieve that tax burden by using the IRA for charitable giving now? Show clients who regularly give to charity how to use their IRA for those gifts

Proposed new regulations from the Internal Revenue Service for inherited retirement accounts would require many heirs to make minimum annual withdrawals from the accounts—leaving less room for the savings to grow tax-deferred over the years.

The new rules would provide guidance to the Secure Act of 2019, which made several changes to laws governing retirement accounts.