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30 06, 2020

How IRA Contributions May Affect Qualified Charitable Distributions (QCDs) after the SECURE Act

By |2020-06-30T09:18:13-07:00June 30th, 2020|Categories: IRAs, Tax News|Tags: , , , , |0 Comments

For traditional IRA owners aged 70.5 or older, making qualified charitable distributions (QCDs) from their accounts offers a way to donate to a charity of their choice while reducing taxable income. However, among its many other changes to retirement plans, the Setting Every Community Up for Retirement Enhancement (SECURE) Act included provisions that have made

26 05, 2020

Additional Changes to Retirement Plans under the SECURE ACT

By |2020-06-13T20:53:50-07:00May 26th, 2020|Categories: IRAs, Retirement Planning, Tax News|Tags: , , , , |0 Comments

Enacted with the goal of making it easier for American workers to save for retirement, the SECURE Act—which stands for Setting Every Community Up for Retirement Enhancement—implemented several sweeping changes to retirement plans when it became law on January 1, 2020. From expanding the tax credits available to businesses that offer retirement plans to enhancing

18 05, 2020

Changes to Stretch IRAs Under the New SECURE Act

By |2020-06-13T21:18:58-07:00May 18th, 2020|Categories: IRAs, Retirement Planning, Tax Diversification, Tax News|Tags: , , , , , |0 Comments

When the Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted on January 1, 2020, it implemented some of the most significant changes to retirement plans that have been made in over a decade. One of these changes came as a disappointment to many IRA owners: the requirement that non-spousal beneficiaries of “stretch

14 05, 2020

Tax Credits Reward Businesses That Offer 401(k)

By |2020-06-13T21:23:52-07:00May 14th, 2020|Categories: IRAs, Tax News|Tags: , , , , |0 Comments

New and significantly expanded tax credits offer small businesses incentives to launch and offer qualified retirement savings plans for employees. A majority of Americans lack the savings to retire comfortably; one quarter of adults have no pension or retirement savings at all, according to the Federal Reserve. With both public pension funds and Social Security

11 05, 2020

New Rules Add Flexibility for Retirement Distributions

By |2020-06-13T21:29:57-07:00May 11th, 2020|Categories: IRAs, Retirement Planning, Tax Diversification, Tax News|Tags: , , , , , , |2 Comments

If you are 70 or about to hit that milestone, you’ve just gained more options in managing your retirement income. As of January 1, 2020, you can now delay taking required minimum distributions (RMDs) from retirement savings until age 72. Previous rules required distributions after age 70.5 from IRAs or employer-sponsored retirement plans such

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