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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How to Convert a 529 Plan to a Roth IRA
How to Convert a 529 Plan to a Roth IRA. See if you’re eligible for this Secure 2.0 provision. By Denise Appleby One of the
How Secure 2.0 Helps Protect Investors From Penalties and Excise Taxes
How Secure 2.0 Helps Protect Investors From Penalties and Excise Taxes? Learn what your clients should know about key tax saving provisions covered in SECURE
How the Backdoor Roth IRA Contribution Works : The Advisor version
Get the client-facing version here for less than $20 By Denise Appleby MJ, APA, AKA, CISP, CRC, CRPS, CRSP The backdoor Roth IRA contribution circumvents the
Required Minimum Distribution (RMD)
Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year. For retirement account
Required beginning date (RBD)
Definition The date by which a retirement account owner must begin distributing required minimum distribution (RMD) amounts from a Traditional, SEP or SIMPLE IRA, a
$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.
SECURE Act 2.0 Allows QCDs of $50,000 to Split-interest Entity
By Denise Appleby SECURE Act 2.0 allows a one-time election to make QCD to a split-interest entity. Subject to a $50,000 aggregate limit. Prior to
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
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
