History As of January 1, 2020, the SECURE Act[1] required non-spousal beneficiaries inheriting individual retirement accounts (IRAs) or 401(k)s to withdraw all money in the account within ten years of the decedent’s death.[2] [...]
Retirement savings opportunities abound with a list that includes the traditional IRA, Roth IRA, SIMPLE IRA, SEP IRA, 401(k), Roth 401(k), 403(b) and governmental 457(b). The deadlines for making contributions vary, as do [...]
Beginning on January 1, 2024, many companies in the United States will have to report information about their beneficial owners, the individuals who ultimately own or control a company (“reporting companies”). This information [...]
It has been three years since our blog on safeguarding your personal information. [1] This new blog focuses on one specific topic, phishing, that has become more deceptive and more aggressive. In 2021, [...]
The SECURE 2.0 Act is now law. This new Act, passed to strengthen Americans retirement savings options, builds on the SECURE Act of 2019 (“Setting Every Community Up for Retirement Enhancement”). The goal [...]
As 2021 draws to a close, we want to provide our clients with strategies for year-end tax planning. Retirement Account Contributions We suggest you maximize your retirement account contributions. For 2021, the maximum [...]
There were two major changes to required minimum distributions (RMD’s) in 2020[1]. The first change was the age increase from 70½ to 72 as a result of the Setting Every Community Up for [...]