Qualified Charitable Distribution (QCD)
Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches
IRA
Individual retirement accounts include traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. Traditional and Roth IRAs are funded by the individual owner. SEP IRAs are funded by employers. SIMPLE IRAs are generally funded by employers and employees. Special tax rules apply to these accounts.
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IRS Announces IRA and Plan Limits for 2024
IRS Announces IRA and Plan Limits for 2024 by Denise Appleby (Connect with Denise on LinkedIn) The IRS issued Notice 2023-75 in which they provide retirement
IRA
What does active participant mean? Find the answer here
Who is an active participant? Active participant status affects an individual’s eligibility to take a deduction for a contribution to a traditional IRA on his/her
Catch-up Contribution
Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the
Salary Deferral Contribution
Definition A contribution made pursuant to a participant’s election to have a portion of his/her salary/wages contributed to his/ her employer sponsored plan rather than
Key Employee
Definition An employee who, at any time during the plan year, is (i) an officer of the employer having an annual compensation greater than $180,000,
How to Convert a 529 Plan to a Roth IRA
How to Convert a 529 Plan to a Roth IRA. See if you’re eligible for this Secure 2.0 provision. By Denise Appleby One of the
SECURE Act Updates
How Secure 2.0 Helps Protect Investors From Penalties and Excise Taxes
How Secure 2.0 Helps Protect Investors From Penalties and Excise Taxes? Learn what your clients should know about key tax saving provisions covered in SECURE
Advisor Retirement Planning Resources
How the Backdoor Roth IRA Contribution Works : The Advisor version
Get the client-facing version here for less than $20 By Denise Appleby MJ, APA, AKA, CISP, CRC, CRPS, CRSP The backdoor Roth IRA contribution circumvents the
