IRA Alert

Displaying 218 results
401(k) rollovers fraught with challenges
RETIREMENT RETIREMENT PLANNING OCT 30, 2024
401(k) rollovers fraught with challenges

From forgotten account details to long waiting times and unintended tax triggers, new report shines a spotlight on headaches and pain points for retirement savers.

Good news: IRS improved the IRA trust rules. Bad news: they still don’t work
RETIREMENT OPINION SEP 10, 2024
Good news: IRS improved the IRA trust rules. Bad news: they still don’t work

Trusts remain lousy IRA beneficiaries, says tax expert.

Best advice? Ignore the 10-year RMD rule
RETIREMENT OPINION JUL 26, 2024
Best advice? Ignore the 10-year RMD rule

The IRS has stood firm on its required minimum distribution rules but following these equates to bad tax planning, says tax expert.

SECURE 2.0 penalty protections may not be as good as thought
RETIREMENT TAX JUL 17, 2024
SECURE 2.0 penalty protections may not be as good as thought

There is confusion over RMD rules and advisors must step up to the plate to help clients.

Delaying RMDs may be a costly tax strategy
RETIREMENT TAX JUN 03, 2024
Delaying RMDs may be a costly tax strategy

Delaying RMDs sounds good now, but the tax bill will continue to compound.

Once again, IRS waives RMDs for beneficiaries subject to the 10-year rule
RETIREMENT RETIREMENT PLANNING APR 17, 2024
Once again, IRS waives RMDs for beneficiaries subject to the 10-year rule

The new relief on required minimum distributions for this year builds on previous IRS relief for RMDs in 2021, 2022 and 2023.

James Caan estate case highlights rollover rules advisors need to know
RETIREMENT RETIREMENT PLANNING APR 08, 2024
James Caan estate case highlights rollover rules advisors need to know

An offer the IRS refused! The estate owes nearly $1 million in taxes and penalties.

An unexpected double tax break for 529-to-Roth rollovers
RETIREMENT RETIREMENT PLANNING MAR 04, 2024
An unexpected double tax break for 529-to-Roth rollovers

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.

High stock values and layoffs combine for big tax breaks on company stock
RETIREMENT RETIREMENT PLANNING FEB 12, 2024
High stock values and layoffs combine for big tax breaks on company stock

With the net unrealized appreciation tax break, company stock can be withdrawn from a 401(k) in a lump-sum distribution and have its appreciation taxed at capital gains rates, rather than as ordinary income.

Planning for the largest IRA balances ever in 2024  
RETIREMENT RETIREMENT PLANNING JAN 16, 2024
Planning for the largest IRA balances ever in 2024  

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

Holiday gift tax planning for IRAs  
RETIREMENT RETIREMENT PLANNING DEC 04, 2023
Holiday gift tax planning for IRAs  

The big tax benefits come in the way gifts can be used in conjunction with retirement accounts.

Year-end QCD mistakes to avoid 
RETIREMENT RETIREMENT PLANNING NOV 20, 2023
Year-end QCD mistakes to avoid 

The great tax benefits of qualified charitable distributions can be forfeited if the rules aren't followed.

How to unravel complicated 2023 RMD rules 
RETIREMENT RETIREMENT PLANNING OCT 23, 2023
How to unravel complicated 2023 RMD rules 

It’s no simple task to determine which clients are subject to required minimum distributions this year, and which aren’t.

Converting IRA to Roth is a financial gift
RETIREMENT RETIREMENT PLANNING SEP 11, 2023
Converting IRA to Roth is a financial gift

The switch can bring big state estate tax benefits, too.

IRS delays mandatory Roth catch-up provision until 2026
RETIREMENT RETIREMENT PLANNING AUG 27, 2023
IRS delays mandatory Roth catch-up provision until 2026

Agency announces needed SECURE 2.0 relief related to catch-up contributions made by higher-income employees.

Stop contributing to IRAs and 401(k)s
RETIREMENT RETIREMENT PLANNING JUL 24, 2023
Stop contributing to IRAs and 401(k)s

This decades-old strategy no longer works. It’s time to reduce IRA balances, not increase them.

IRS provides limited RMD relief
RETIREMENT RETIREMENT PLANNING JUL 17, 2023
IRS provides limited RMD relief

After the SECURE 2.0 Act's new rules resulted in confusion, the IRS issues notice providing relief on required minimum distributions.

Navigating ever-changing tax rules on IRAs
RETIREMENT RETIREMENT PLANNING JUN 20, 2023
Navigating ever-changing tax rules on IRAs

As laws and IRS guidance evolve, it’s crucial for advisors to stay on the leading edge of how inherited IRAs are affected.

Nonfungible tokens held in IRAs can trigger big tax hit
RETIREMENT RETIREMENT PLANNING MAY 01, 2023
Nonfungible tokens held in IRAs can trigger big tax hit

If clients are holding NFTs in their individual retirement accounts, review them to see which tokens are acceptable assets and which may be deemed a collectible under IRS guidance.

Incorrect RMD notices may result in distributions that aren’t exactly ‘required’
RETIREMENT RETIREMENT PLANNING APR 03, 2023
Incorrect RMD notices may result in distributions that aren’t exactly ‘required’

The problem arose from the passage of the SECURE 2.0 Act late last year, which didn’t give financial institutions time to update their systems.