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Beware of Investing IRAs in NFTs Thumbnail

Beware of Investing IRAs in NFTs

If you are thinking of buying an NFT (non-fungible token) with your IRA funds, you may want to reconsider. In Notice 2023-27, the IRS said that NFTs associated with “collectibles” are prohibited IRA investments. This could expose you to significant taxes and penalties.

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RMDs and QCDs Thumbnail

RMDs and QCDs

SECURE 2.0 includes a provision that increases the starting age for RMDs to 73, eventually allowing some IRA owners to begin RMDs as late as age 75 in 2033! However, those who have already started RMDs before 2023 must continue.

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"Mid-Air" Roth Conversions Thumbnail

"Mid-Air" Roth Conversions

Rollovers from work plans like a 401(k) to an IRA are as common as air travel. Typically, pre-tax dollars are moved into a traditional IRA, and any Roth dollars in the work plan are rolled to a Roth IRA.

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