Tax Guides

36 guides on Retirement · show all guides

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• Roth conversions
• Inherited IRAs
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• Inherited IRAsJun 21, 202612 min

  Who Should I Talk To After Inheriting an IRA — and What Should I Ask Them?

  Your parent died, you’re named on their IRA, and somewhere in the fog of the past few weeks you’ve realized this is going to need a professional. Fine — but...

• Inherited IRAsJun 21, 20269 min

  I Just Found Out I Missed RMDs on My Inherited IRA — Do I Take Them All at Once?

  You inherited your father’s IRA a few years back. You read — correctly, you thought — that the SECURE Act gave you ten years to empty it, so you left...

• Inherited IRAsJun 21, 20268 min

  Inherited IRA Withdrawal Strategy: How Much Should I Take Out Each Year While I’m Still Working?

  You inherited a large traditional IRA from a parent, you’re in the heaviest earning years of your career, and you have ten years to empty the account. Every dollar you...

• Inherited IRAsJun 21, 20269 min

  My Parent Wasn't Taking Their Required RMDs - How Does My Inherited IRA 10-Year Rule Work?

  You’re going through your father’s paperwork after the funeral, and you find the IRA statements. He turned 76 a couple of years ago, well past the age the IRS makes...

• Inherited IRAsJun 21, 20269 min

  Inherited IRA 10-Year Rule: Do I Have to Take RMDs Every Year, or Just Empty It by Year 10?

  Your parent died, you inherited their traditional IRA, and now you’ve gotten three different answers to the same question. The brokerage rep said you have ten years and didn’t mention...

• Roth conversionsJun 17, 20266 min

  Building a Roth Conversion Ladder When You Already Have a Roth IRA (and What Happens to Your Growth)

  If you already have a Roth IRA with years of contributions and growth in it, the natural worry about starting a conversion ladder is that you’ll somehow contaminate the account...

• Roth conversionsJun 15, 20263 min

  Can You Reverse a Roth Conversion? How to Fix a Backdoor Roth Mistake

  A client emailed our office last week in a panic after executing a Backdoor Roth IRA on their own. They had contributed $6,500 to a non-deductible IRA and immediately converted...

• Roth conversionsJun 15, 20263 min

  Roth Conversion Before Moving States: Why the "Early Bird" Trap Costs Thousands

  Every tax season, I review the returns of high-earning professionals who are fiercely dedicated to optimizing every dollar, and the ones moving states almost always get the timing of a...

• Roth conversionsJun 15, 20264 min

  Why Your SEP IRA is Ruining Your Backdoor Roth (And Why You Need a Solo 401(k))

  You are an established solo business, and for years you've done exactly what you were supposed to do. You set up a SEP IRA because it was easy, and you...

• Roth conversionsJun 14, 20268 min

  How Much Should I Convert to Roth Each Year Before RMDs Hit? A Gap-Years Game Plan

  You are 66. You stopped working last year, you have not turned on Social Security yet, and you are not old enough for required minimum distributions. For the first time...

• Roth conversionsJun 14, 20264 min

  Reverse Rollover Trap: Trapping $250k in a Bad 401(k)

  Every tax season, high-earning clients sit across my desk and say the same thing: "My financial advisor told me I need to do a Backdoor Roth."When I point out they...

• Roth conversionsJun 14, 20267 min

  When Is a Roth Conversion NOT Worth It? Seven Times to Skip It

  Almost everything written about Roth conversions is a sales pitch — convert, convert, convert. The truth is more boring: a conversion is just prepaying a tax bill, and prepaying only...