Key Rules for Non-Spouse Beneficiaries
By: Denise Appleby,CISP, CRC, CRPS, CRSP, APA. Written for the financial professional Clients who inherit assets held in a tax deferred retirement account, such as
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Special IRA provisions for Certain Members of the Armed Forces
Originally written March 2010 While most us can either take a few hours off from work, or use our time-off from work to handle our
How to Cancel a Tax Bill from a Roth Conversion
By Denise Appleby,CISP, CRC, CRPS, CRSP, APA. | LinkedIn If you convert assets to a Roth IRA, you will owe income tax on any pretax
Spousal Protection for Retirement Assets
By Denise Appleby,CISP, CRC, CRPS, CRSP, APA. One of the ‘for better’ perks of the ‘til death do us part’ promise made by married couples
Avoid Penalties With Your IRAs
by Denise Appleby Amounts you save in your IRA can be diminished by penalties and excise tax. For instance, failing to take required minimum distribution
IRS Announces IRA and Plan Limits for 2017
by Denise Appleby CISP, CRC, CRPS, CRSP, APA The IRS issued IR-2016-141, in which they provide retirement plan limits for 2017. Only some of the
Save a Client $10,000 with New IRS Procedure for Waiving the 60-Day Rollover Deadline
by Denise Appleby Written for financial, tax and legal professionals The IRS increased the fee for certain private letter rulings (PLR) requests to $10,000 per
Unintended Tax Consequences from Mishandling of Inherited IRA: A Case Study
by Denise Appleby (Written for financial/tax/legal professionals) If one of your clients inherits a Traditional IRA and wants to share that IRA with a sibling,
Charity is Exception to ‘Contingent Right’, making Trust a ‘Qualified Beneficiary’| PLR 201633025
by Denise Appleby When a trust is named as the beneficiary of an IRA, it must a qualified “see-through” trust (qualified trust) in order to
Calculating Your ‘Gross Up’ Distribution: How Much Do You Need?
Tip by Denise Appleby When you receive your distribution from your IRA or 401(k)[1], it might be subject to income tax. Here’s how you calculate