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Mandatory Roth Catch-Up Contributions Required for 2024 Thumbnail

Mandatory Roth Catch-Up Contributions Required for 2024

Beginning in 2024, SECURE 2.0 requires that certain high-paid 401(k) participants who want to make catch-ups must make them on a Roth basis. This means that the contributions will be made on after-tax pay, but the contributions and associated earnings can be distributed tax free if certain conditions are met.

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Inherited Roth IRA: RMDs or No?   Thumbnail

Inherited Roth IRA: RMDs or No?

Owners of Roth IRAs are never required to take lifetime RMDs from their Roth IRA. Since lifetime RMDs are not applicable to Roth IRAs, all Roth IRA owners are deemed to have died before the RBD. Even if a Roth IRA owner died at age 100, he would be deemed to have died before his RBD.

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Conversion as a Gift to Your Beneficiaries Thumbnail

Conversion as a Gift to Your Beneficiaries

Do you have an IRA you are thinking about converting to a Roth IRA? Inheriting a traditional IRA will have very different tax consequences than inheriting a Roth IRA. Converting your IRA to a Roth IRA is really a gift to your beneficiaries.

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HSA Benefits That May Surprise You Thumbnail

HSA Benefits That May Surprise You

You have likely heard of Health Savings Accounts (HSAs), and you may even understand the basics of how an HSA works. Beyond these basics, there are many advantages that an HSA can offer that many people are not aware of.

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The 3 IRA Beneficiary Categories - Again and Again and Again Thumbnail

The 3 IRA Beneficiary Categories - Again and Again and Again

There are numerous articles referring to “eligible designated beneficiaries” (EDBs), “non-eligible designated beneficiaries” (NEDBs), and “non-designated beneficiaries” (NDBs). As a basic refresher, the three SECURE Act IRA beneficiary categories (and their applicable payout rules), are as follows.

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