The IRS just issued Notice 2018-83 containing the 2019 IRA and retirement plan limitations as adjusted for cost-of-living. The IRA contribution limit is increasing to $6,000 for 2019, and most of the income limitations associated with Roth IRA eligibility and Traditional IRA … Read More
The long-running debate on whether a backdoor Roth is legal is over. While the Backdoor Roth IRA strategy has been employed by high-income individuals since 2010, its legality was questioned by some because of the IRS step doctrine. With the … Read More
The end of the year is fast approaching and if you are 70½ you only have until December 31st to complete your required minimum distribution (RMD) from your retirement account(s). That is, if you want to avoid a stiff penalty. … Read More
When You Only Have 5 Years or Less to Retire You have worked hard for many years and now it is time to start thinking about what your retirement will look like. You may have some thoughts, dreams, and even … Read More
On October 27, 2016, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. Here are the highlights.