Biden Proposal Could Reshape Retirement Accounts
Joe Biden and Kamala Harris have a proposal for retirement accounts that could change the way many people save for retirement. The intent of this proposal is to increase retirement…
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The SECURE ACT’s “10-Year Rule” for Inherited IRAs
On Friday, December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. The broad intent of the legislation is to make it easier…
How to Take a Qualified Charitable Distribution (QCD) from Your IRA
Would you like to help your favorite not-for-profit organization and save taxes at the same time? The Qualified Charitable Distribution rules allow taxpayers to make IRA distributions of up to…
2017 Contribution Limits for Retirement Accounts
Annual contribution limits for retirement savings accounts for 2016 and 2017, as established by the IRS, are listed below. Please keep in mind that contributions to Traditional IRAs, Roth IRAs,…
Taxation of Inherited Annuities
Annuities are complicated products that often cause much confusion for annuity owners, let alone their beneficiaries. There can be significant tax consequences associated with the inheritance of an annuity held…
SEP Plans – Avoiding Common Errors
The IRS recently identified a few common errors seen in one of the most popular retirement plans used by small businesses — the SEP plan. General Rules for SEPs With…