Tools that the financial, tax and legal advisor may use to simplify the rules and regulations that apply to tax-deferred retirement savings accounts- IRAs, Roth IRAs, employer 401(k) plans.
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
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
By Denise Appleby The IRS issued proposed RMD regulations in February that contradict the widespread industry interpretation of the 10-year rule. This means certain misinformed
Written by Denise Appleby: For Financial Advisors The Small Business Owner 401(k) is an ideal retirement plan for many self-employed individuals. A retirement savings solution
Definition The annual benefit limit for defined benefit plans is the lesser of: A) 100% of the participant’s average compensation for his or her highest
Denise Appleby explains how to avoid double taxation of otherwise untracked basis in IRAs, using the Cohan Rule. IRA owners can find themselves paying income
IRS Announces IRA and Plan Limits for 2021 The IRS issued Notice 2020-79 in which they provide retirement plan limits for 2021. Only some of the limits
The IRS issued Notice 2020-50, in which they expanded the definition of a Qualified Individual, for Coronavirus-Related Distribution purposes. A qualified individual is one who
An individual who takes a distribution from a retirement account may rollover eligible amounts to the same or another retirement account. As long as the
Updated for the SECURE Act Click here to download >> 2020 Employer Plan Comparison Table for Small Businesses (download here) This table provides a comparison
