Here is what you need to know.  Provided by Marc Aarons  Financially, many of us associate the spring with taxes – but we should also associate December with important IRA deadlines. This year, like 2021, will see a few changes and distinctions. December 31, 2022, is the deadline to take your Required Minimum Distribution (RMD) […]

Is it time to contribute more?  Provided by Marc Aarons  Preparing for retirement just got a little more financial wiggle room. This week, the Internal Revenue Service (IRS) announced new contribution limits for 2022. Staying put for 2022 are traditional Individual Retirement Accounts (IRAs), with the limit remaining at $6,000. The catch-up contribution for traditional […]

What to know about your IRA, HSA, and more.  Provided by Marc Aarons  Previously, the Internal Revenue Service (IRS) announced that the federal income tax filing due date for individuals for the 2020 tax year had been automatically extended from April 15, 2021, to May 17, 2021.1 More time for all. However, the IRS has […]

Here is what you need to know. Provided by Marc Aarons Financially, many of us associate the spring with taxes – but we should also associate December with important IRA deadlines. This year, like 2020, will see a few changes and distinctions. December 31, 2021, is the deadline to take your Required Minimum Distribution (RMD) […]

A choice for I.R.A. owners who want to reduce taxes linked to I.R.A. distributions. Provided by Marc Aarons  Do you have an I.R.A.? As you enter your 70s, you may start to look at that I.R.A. not only as an asset, but also as a problem. By law, you must take required minimum distributions (R.M.D.s) […]

Here is what you need to know.  Provided by Marc Aarons Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. April 15, 2021 is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts. Keep in mind that withdrawals from traditional, […]

Here are some things you might consider before saying goodbye to 2020. Provided by Marc Aarons  What has changed for you in 2020? For many, this year has been as complicated as learning a new dance. Did you start a new job or leave a job behind? That’s one step. Did you retire? There’s another […]

There are benefits and limitations when you decide to donate stock. Provided by Marc Aarons Why sell shares when you can gift them? If you have appreciated stocks in your portfolio, you might want to consider donating those shares to charity rather than selling them. Why, exactly? Donating appreciated securities to a tax-exempt charity may […]

Take note of them for 2019.  Provided by Marc Aarons at Money Managers, Inc      Some notable developments are about to impact 401(k) plans. They follow a major change that became effective in 2018. Thanks to the Tax Cuts & Jobs Act, workers who borrow from 401(k) accounts and leave their jobs now have until […]

A move that high earners can make in pursuit of tax-free retirement income. Provided by Marc Aarons @ Money Managers, Inc.   Does your high income stop you from contributing to a Roth IRA? It does not necessarily prohibit you from having one. You may be able to create a backdoor Roth IRA and give […]