Qualified Charitable Distribution (QCD)
Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches
Distributions
Amounts withdrawn from IRAs , 401(k)s and other tax-deferred retirement accounts.
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SECURE Act Updates
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
401K
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
What is the 5-Year Rule for beneficiaries?
Definition For beneficiaries who inherit retirement accounts, a common question asked is “What is the 5-Year Rule for beneficiaries?” The beneficiary five-year rule is the
What is a Qualified HSA Funding Distribution (QHFD) ?
A Qualified HSA Funding Distribution (QHFD) , also referred to as: Qualified Funding Distribution (QFD) , HSA Funding Distribution (HFD),and Qualified health savings account (HSA) Funding
Do you qualify for the Qualified Individual-Coronavirus-Related Distribution? Learn if you do.
Qualified Individual- Coronavirus-Related Distribution A qualified individual is one who is eligible to take a coronavirus-related distribution, and maybe any of the following: An individual:
What is a Coronavirus-related distribution?
A coronavirus-related distribution (CRD) is one that is permitted to be taken by qualified individuals from January 1, 2020 and before December 31, 2020. The
Early distribution penalty not deductible
Tax court says that 72(t) additional tax (early distribution penalty) is not deductible. T.C. Memo. 2016-15- Robert Leon Martin v. Commissioner
Qualified charitable distributions (QCD) Extended for 2014
QCD Extended under H.R. 5771: Tax Increase Prevention Act of 2014 (the 2014 “Tax Extenders” bill) extended the qualified charitable distributions (QCD) provision to December
