What 2020 Tax Changes May Bring for Wealthy Families – Annapolis and Towson Estate Planning
From changing brackets and penalties to increased estate-tax thresholds, next year will see tax changes for wealthy clients.
What Do I Do With an Inherited IRA? – Annapolis and Towson Estate Planning
If you are lucky enough to inherit a 401(k) or an IRA, when you don’t know what you are doing, you could put your inheritance at risk. The tax rules need to be followed to the T. These IRS inherited IRA rules will vary, depending on who has passed away, and who is inheriting the retirement accounts.
Here’s What You May Not Know About Roth IRAs – Annapolis and Towson Estate Planning
Roth IRAs are powerful and flexible financial planning tools. They are also complex. As a result, many people aren't familiar with all aspects of a Roth IRA.
What are the Details of the New SECURE Act? – Annapolis and Towson Estate Planning
The SECURE Act (Setting Every Community Up for Retirement Enhancement, H.R. 1994) is still working through the Senate, after passing the House in May.
Retirement Minimum Distribution (RMDs) Fundamentals – Annapolis and Towson Estate Planning
Once your money is in a retirement account, it’s there until you’re ready to use it, right? Not exactly.
Are Inheritances Taxable? – Annapolis and Towson Estate Planning
There is nothing wrong with letting your inheritance sit, until you have explored all of your options and have a full understanding of how a windfall can affect your personal taxes.
Why Have Charitable Gifts From IRAs Increased Dramatically? – Annapolis and Towson Estate Planning
Americans distributed an average of $9,200 from their IRAs to charities from 2017 to 2018, according to a new report from FreeWill, a fundraising firm.