“Kiddie” Tax Basics

What is a “kiddie” tax? It’s a tax on a child’s investment and/or other unearned income. It was originally created to deter parents from shifting their investment assets to their ...

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QCD Planning

If you are an IRA owner, the IRS requires that you withdraw a minimum amount (RMD) from your IRA each year after your required beginning date. However, some IRA owners ...

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Are Your Beneficiary Forms Up to Date?

While you are giving thanks for all of your blessings, it is a perfect opportunity to also take a moment to think about your beneficiary forms. Although a will controls ...

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Be Careful with Self-Directed IRAs

Thinking of a Self-Directed IRA? Did you hear or see a commercial or receive a solicitation letter about investing in a self-directed IRA? The IRS recently released a notice to ...

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Proposed Tax Act – Repeal Overview

The newly released proposed tax act, referred to as the “Tax Cuts and Jobs Act,” came with a few surprises and some not so shocking proposals. Because the document is ...

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Bobbing for IRA Answers

Q: Are all Roth IRA distributions tax-free? A: No. Only qualified Roth IRA distributions are tax-free for IRA owners. Q: My brother was only 48 years old and passed away ...

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403(b) Basics

403(b) plans are special retirement plans for public school employees, and certain tax-exempt organizations. Distributions are considered taxable income. Distributions are made once there is a triggering event such as ...

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Tax Advantages of an IRA

IRAs and Roth IRAs are both accumulation and distribution vehicles. Traditional IRAs continue to grow tax-deferred and Roth IRAs grow tax-free. If IRAs are properly set up and administrated, an ...

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Income in Respect of Decedent

It’s important to be familiar with the concept of Income in Respect of Decedent or IRD. Why? As a beneficiary, you can get an income tax deduction for federal estate ...

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NUA: A Little-Known Tax Break

If your 401(k) has highly appreciated company owned stock, using a net unrealized appreciation (NUA) strategy may be able to save you money on your tax bill. Assume you have ...

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