Legislative Changes Impacting Missed RMDs
If you fail to take a required minimum distribution (RMD) from your self-directed IRA, you’ll owe an excess accumulation tax to the IRS. This includes IRA owners age 70½, 72,...
2023 SDIRA Tax Reporting: Form 1099-R
Self-directed IRAs (SDIRAs) come with tax benefits – it’s up to the investor to understand the tax reporting requirements to claim those benefits. During tax season, one of the most...
Secure Act 2.0 Passage: Impact on IRAs
Three years after passing the SECURE Act of 2019, Congress passed the SECURE Act 2.0 to further advance the bipartisan policy initiative of increasing Americans’ retirement savings. Signed into law...
4 RMD Strategies to Help Mitigate Losses and Taxes
The IRS requires all IRA holders aged 72 or older to withdraw a certain amount of money each year from their IRAs (not including Roth IRAs). Referred to as a...
What SDIRA Investors Need to Know About 2021 and 2022 RMDs
If you are age 72 or older, you are required to take a minimum distribution from your Traditional, SEP, and SIMPLE IRAs each year. Those who were age 70½ by...
Update: 2020 IRA Exemptions and Exceptions
With high hopes that 2021 will bring fewer last-minute, emergency changes to tax and IRA-related rules than we saw in 2020, now may be a good time to clear up...
