Search Results for "Roth conversion"

If you have a charity among your heirs, there is the possibility for tax savings.

“No decent planner would ever create a plan that didn’t account for frequent market drops.”

I’m turning 60 this week. Even though I plan on working as long as possible, this is an important check point.

Now non-nuclear family or friends who are more than 10 years younger than the decedent and in good health are never eligible for stretch provisions and must distribute the whole balance over 10 years.

This latest notice now gives both seniors and heirs who have not yet been able to put their formerly RMD funds back into their IRAs the chance of redistributing those funds to the IRA that distributed them.

Once you know how to file it, it is a simple and easy process.

As part of the requirements, the SEC wrote passages which must be included verbatim in each relationship summary. Some of that required text are so-called conversation starter questions.

Hopefully, this extension helps some take advantage of this welcome relief.

Each of us either has a withdrawal rate or a savings rate, as we are each either contributing to or withdrawing from our invested accounts.

In this way, those with inherited IRA distributions they would like to reverse or those with distributions no longer eligible for regular 60-day rollover contributions may be able to still complete either a Roth conversion or IRA redistribution with those assets.

Because the due date for filing Federal income tax returns has been postponed to July 15, the deadline for making contributions to your IRA for 2019 is also extended to July 15, 2020.

Sometimes, you don’t get a second chance to be brave.

What can you do when you are in the middle of the Roth IRA contribution phaseout range?

Nothing changes during a Bear Market when it comes to where you should save and invest.

If you have an accepting employer plan, you could consider rolling the pre-tax funds into your 401(k) this year while converting your nondeductible basis cleanly to a Roth IRA.

While the appreciation allocation helps you achieve your financial goals, introducing a stability allocation into your portfolio can prevent your portfolio from running out of money.

Among the temporary measures, Congress waived required minimum distribution (RMD) requirements for only tax year 2020.

A recovery after a significant downturn in the markets is often market by steep growth.

Market returns are out of your control. These thirteen actions are in your control.

The given numbers on a 1099-R are insufficient to be able to fill out your tax return correctly. Knowledge of what was actually done is required in order to file your taxes accurately.

This person has an IRA balance, but is about to empty it with a reverse Rollover. So the question is one of timing: can they do the IRA Rollover before the nondeductible contribution so that their cream and coffee never mix?

We see ourselves as your primary care provider for finances and strive to become experts in every specialty that you need while accompanying you on any referral to another firm we need to make.

If you inherit a traditional IRA from a person who had a basis in the IRA because of nondeductible contributions, that basis remains with the IRA assets as they come into your ownership.

We have a large distribution of clients at all portfolio sizes and, surprisingly, have all life stages near equally represented.

Even if all four of these sentimental or pragmatic justifications are true, doing the wrong thing is still worse than doing nothing.

Having a 401(k) plan with both pre- and post-tax balances is quite common, but mistakes are common as well.

Here is a simple list of the retirement account types and their differences.

Rumors suggest that the network’s vetting is a five minute process where you are told the fees are about $1,000 a month.

This person has no IRA balance, but is about to get one with an IRA Rollover. So the question is one of timing: can they do the IRA Rollover after the nondeductible contribution has already been converted so that their cream and coffee never mix?

On Tuesday, March 12, 2019, David John Marotta appeared on Radio 1070 WINA’s Schilling Show to discuss how to do your own tax review.

My husband chopped his leg with a hatchet in 2018 when we didn’t have health insurance.

On Tuesday, November 13, 2018, David John Marotta appeared on Radio 1070 WINA’s Schilling Show to discuss several tax saving ideas you can do before the year ends.

These are two simple but effective strategies to help calculate a very good conversion target for this year.

Even though you would likely benefit from contributing to your 401(k), you might not benefit from keeping your assets there — even if you are the owner.

We believe that lessons like these are part of the fiduciary standard.

Thank you, Robert, for your email and your readership. I hope that everyone enjoys our new “Do-It-Yourself” service level.

These are two ways to benefit from the higher standard deduction while still fulfilling your charitable intentions.

These meetings are full of the warmth, friendship, radical honesty, and powerful collaboration.

Be very careful filling out these forms and be sure to ask for help if you need it.

Teresa Ghilarducci is just wrong here. There is no qualification that can make Ghilarducci more right.

Incentives matter. If you are going to get a financial advisor, you need to select a fee-only advisor because you need to find an advisor you can trust.

At Marotta Wealth Management, we believe that a team collaborating on your behalf provides you with better service.

Tax Year 2024 Account Type Requirements Contribution Limit More Reading Traditional or Roth IRA Contribution (subject to phaseouts, limited by wages) Age 49 and under $7,000 Should I Fund a Roth or a Traditional Account? Do Large Roth Conversions Require … Read More

We offer comprehensive wealth management services.

Wise decisions cannot be made in isolation from their impact on other areas of your financial life.

We are very pleased to announce that Courtney Fraser is our newest CERTIFIED FINANCIAL PLANNER™ (CFP®) professional at Marotta Wealth Management!

Although a net worth statement is not valuable by itself, it is very valuable in the larger context of your comprehensive financial plan.

Depending on your particular case and Social Security agent, you may get your surcharge waived, lowered, or upheld.

You can take the RMD out as early as January 1st or as late as December 31st, but when should you?

One obscure way we earn our fee is in how we bill you.