$10,000 Penalty-Free Distributions Is Reprieve For Domestic Abuse Victims
Denise Appleby, APA, AKA, CISP, CRC, CRPS, CRSP SECURE Act 2.0 gives domestic abuse victims a break from the 10% additional tax on early distributions.
IRA
Individual retirement accounts include traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. Traditional and Roth IRAs are funded by the individual owner. SEP IRAs are funded by employers. SIMPLE IRAs are generally funded by employers and employees. Special tax rules apply to these accounts.
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Top 4 Tricky Revelations in the Proposed RMD Regulations
By Denise Appleby, APA,QKA,CISP,CRC,CRPS,CRSP The proposed RMD regulations included explanations that differ from industry experts’ interpretation of the SECURE Act. Let’s take a look… The
SECURE Act 2.0 Allows QCDs of $50,000 to Split-interest Entity
By Denise Appleby Prior to SECURE Act 2.0, an IRA owner’s qualified charitable distribution (QCD) was limited to $100,000 per year. In addition to meeting
Domestic abuse distribution
A domestic abuse distribution is one that is made to domestic abuse victim, during the 1-year period beginning on any date on which the individual
Retirement Planning
What is a Roth IRA? Everything you need to know.
A Roth IRA is a retirement savings vehicle that individual taxpayers can establish. The Roth IRA bears many similarities to the traditional IRA and some distinct differences. Unlike contributions to a
How to Advise Clients of The RMD Age Increase
By Denise Appleby, APA,QKA,CISP,CRC,CRPS,CRSP Details and examples of the SECURE Act 2.0 RMD age change equip you to guide clients promptly. Missing RMD deadlines, miscalculating
IRS Announces IRA and Plan Limits for 2023
by Denise Appleby The IRS issued Notice 2022-55 in which they provide retirement plan limits for 2023. Many the limits were changed from those that
6 Key Rules for Using the SEPP/72(t) Strategy
By Denise Appleby Sometimes clients need retirement funds before 59½, but breaking any of the governing rules for 72(t) payments will mean paying taxes waived
IRS Notice 2022-53 Waives the 50% Excise Tax on RMD Failures for 2021 and 2022 RMD for Some Beneficiaries
By Denise Appleby If you did not take your RMD from your inherited IRA in 2021 or 2022 because of the confusing messaging from the
Advisors Guide: IRS Waives the 50% Excise Tax for 2021 and 2022 RMDs for Some Beneficiaries
By Denise Appleby The IRS acknowledges confusing messaging for the new 10-year rule for beneficiaries and waives the 50% excise tax for 2021-22 RMD shortfalls
