Retirement Planning
The IRS announced that the income ranges for employee participation in workplace 401(k) plans and IRA contributions will increase from 2020 to 2021. Most of the other retirement plan contribution limits stayed the same, however.
The IRS issued guidance adding state unclaimed property fund distributions to the list of reasons that taxpayers may self-certify that they missed the 60-day deadline to roll over funds to a qualified retirement plan.
This article discusses what is needed to help clients who have an IRA invested in PTPs pay the correct amount of tax.
Tax advisers should develop a profiling system for
identifying clients who are best suited to take advantage of Roth IRAs now that eligibility to participate in this popular retirement investment vehicle has been significantly expanded over the
past decade.
This article discusses alternatives to the stretch IRA.
Annual contribution limits for 401(k) plans will increase from $19,000 in 2019 to $19,500 in 2020, and most other limits are increasing as well.
CPA financial planners need to consider their clients’ unique circumstances and help them avoid mistakes that could lead to the wrong decision.
This column discusses advising clients on the implications for choice-of-entity decisions, charitable
giving strategies, and estate, retirement, and higher education planning.
Life insurance can be a surprisingly valuable hidden asset for clients who are retired.
A tax adviser can help a client smooth out the high-income-tax peaks and the corresponding lower-tax-bracket years with an effective bracket-management strategy.
These plans can allow a large amount to be contributed on behalf of the owner while maintaining flexibility in making contributions in future years.
Due to “extremely low” demand and high costs, the Treasury Department announced that it is ending the myRA retirement savings program.
A range of economic, political, personal, and other uncertainties can lead to clients having deep-seated fears about doing any one thing.
Deciding whether it makes sense to trigger the resulting tax liability depends on several factors.
Here is a way to turn a lemon into lemonade (with a little help from the stock market).
Without a tax professional’s input, much of the benefit of tax-aware best practices is unlikely to be achieved.
Baby Boomers born from 1954 to 1964, and all subsequent generations, will be unable to use some planning strategies that have benefited older generations.
The opportunity to get more assets into Roth vehicles via various means has evolved over the last several years.
Lisa C. Germano received the highest award given by the accounting profession in the area of taxation.
CPA financial planners can help their clients predict how they may fare financially.
