The Wealthy & Wise Blog
Congress Looks to Eliminate Back-Door Roth Strategies Monday, October 4, 2021Brought to you by David SchlossbergAuthor: Ed Slott and Company, LLC. Copyright © 2021 The House Ways and Means Committee has released a draft of proposed changes to retirement accounts,
American Rescue Plan Act of 2021 Summary Tuesday, March 23, 2021Brought to you by David SchlossbergAuthor: Tax Materials, Inc. The following is a brief summary of key provisions included in the American Rescue Plan Act of 2021, signed into law
8 THINGS YOU NEED TO KNOW ABOUT YOUR INHERITED IRA Wednesday, September 16, 2020Bought to you by David SchlossbergAuthor: Sarah Brenner, JDDirector of Retirement EducationFollow Us on Twitter: @theslottreport The House Ways and Means Committee has released a draft of
IRS Clarifies COVID-19 Relief Measures for Retirement Savers Monday, August 3rd, 2020By David Schlossberg, Tax Plan for Wealth, Inc The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March 2020 ushered in several measures designed to help IRA
How The Secure Act Has Modified Legacy Planning – and how do you stop your heirs from losing out? Tuesday, July 21, 2020By David Schlossberg, Tax Plan for Wealth, Inc Under the prior rules, before the Secure Act existed, was
RETIREMENT SAVINGS IN A VOLATILE MARKET – IS NOW THE TIME FOR A ROTH IRA CONVERSION? Wednesday, March 18, 2020 By Sarah Brenner, JD, amended and updated July 21, 2020 by David Schlossberg, Tax Plan for Wealth, Inc. IRA AnalystSince
IRS Announces BLANKET Relief for Unwanted 2020 RMDs! The IRS has just released IRS Notice 2020-51 which extended the deadline to August 31, 2020 to return any unwanted 2020 RMDs. Unprecedented Relief! ALL unwanted RMDs taken in 2020 can now be
Secure Act Changes Special Needs Trusts The SECURE Act was a game changer for trusts named as an IRA beneficiary. Most trusts will be limited to a 10-year payout rule, just like most other non-spouse beneficiaries. However, Congress was careful to
How does the Secure Act alter Roth conversion strategies? Recent speculation has some believing that the Secure Act would reduce some of the benefit of Roth conversion strategies because of the required payout within 10 years. This professional strategist disagrees,
4 CARES ACT MISCONCEPTIONS The Coronavirus Aid, Relief and Economic Recovery Act (CARES Act), signed into law on March 27, includes several important retirement-related provisions. Because some of these provisions are confusing, several misconceptions about the new law have arisen.
Why do you need a tax planning professional and NOT just a CPA or accountant? Well… the Gettysburg address is 269 words, the Declaration of Independence is 1,337 words, and the Bible is only 773,000 words. However … the tax
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