HOW THE ROTH IRA 5-YEAR RULE WORKS
We are often asked how the Roth IRA 5 year rule works. This is a borderline trick question because there is not one 5-year rule for Roth IRA distributions. There are actually two different 5-year rules. So, to avoid confusion, let’s talk separately about each 5-year rule. 5-Year Forever Rule [...]
3-YEAR STATUTE OF LIMITATIONS
When an IRA or retirement plan owner reaches a particular age, that account owner typically must begin taking required minimum distributions (RMDs.) Fortunately, if an RMD was missed, the IRS has been agreeable to waiving the penalty for good cause. In fact, the proposed SECURE Act regulations added a couple [...]
RMDS WHEN ANNUITY IS ANNUITIZED
IRS Guidance Needed. If you are subject to required minimum distributions (RMDs) and have annuitized part of your IRA, a recent law change could drastically reduce your RMDs. But, without IRS guidance, it may be difficult to take advantage of that change. When an annuity within an IRA is annuitized, [...]
RMD RELIEF? NO THANK YOU!
The IRS unleashed massive confusion last year. To the surprise of many, it released proposed SECURE Act regulations requiring beneficiaries (on some occasions) to take required minimum distributions (RMDs) during the 10-year payout period. To help with the confusion, the IRS issued some transitional RMD relief. Notice 2022-53 Last year, [...]
THE SECURE ACT 2.0
Here’s What It Means For You
On December 29, 2022, the SECURE 2.0 Act was signed into law. While “Son of SECURE” is not quite the game changer for IRAs that the original SECURE Act was, there are many new provisions. How will this legislation affect you and your retirement savings? Download the Guide for some highlights and effective dates.
ED SLOTT’S GUIDE LIBRARY:
Updated Monthly!
Steven J. Toto, CPF®
Proud Member of Ed Slott’s IRA Advisor Group
Members of Ed Slott’s Elite IRA Advisor GroupSM train with Ed Slott and his team of IRA professionals on a continuous basis. Members are immediately notified of changes to the tax code and updates on retirement planning, so you can be sure your retirement dollars are safe from unnecessary taxes and fees. Retirement planning is complicated. It is a personal and situational endeavor with possible pitfalls in the way of success. There are approximately 500 members throughout the country and Steven Toto is one of them. He is armed with current, cutting-edge IRA information to help service his clients, their families, and members of the Newtown, PA & Princeton, NJ communities. If you are interested in discussing your situation with Mr. Toto, give us a call today.
Pharmaceutical Benefit Planning
Our advisors can help you navigate the complexities of your benefit plan so you can refine your
decision-making and pursue the retirement goals you have worked hard to secure.
MERCK