NUA: NET UNREALIZED APPRECIATION
The goal of the net unrealized appreciation (NUA) tax strategy is to enable a person to pay taxes on the appreciation of company stock formerly in a work plan at long-term capital gain rates as opposed to ordinary income rates. The spread between long term capital gains vs. ordinary income [...]
4 YEAR-END DISCUSSION TOPICS
The holidays are right around the corner, and 2022 is drawing to a close. The end of the year is always a busy time with retirement account deadlines and preparations for the arrival of a new year and the tax season. This year, it seems, has been even busier than [...]
RMD GRACE PERIOD ENDING IN 2023
The IRS recently said it would waive the 50% penalty on RMDs missed in 2021 and 2022. The waiver applies to IRA beneficiaries subject to the 10-year payout rule who inherited in 2020 or 2021. However, as things stand now, the RMD grace period will end in 2023. Beneficiaries who [...]
IRA TRANSACTIONS THAT CAN BE MISSED
Not all IRA transactions are easily identifiable. Some require a little legwork to reveal or report what occurred. Some IRA transactions are not even labeled on official IRS tax forms and can go undetected. Here are three items that taxpayers and tax professionals alike can easily miss. 1. Qualified Charitable [...]
THE SECURE ACT:
Here’s What It Means For You
On December 20, 2019, a $1.4 trillion spending bill was signed into law in order to keep the government running. Tucked away inside this mammoth piece of legislation was the Setting Every Community Up for Retirement Enhancement (SECURE) Act. This law includes significant changes to retirement accounts. How will it affect you and your retirement savings?
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Pharmaceutical Benefit Planning
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