News & Analysis as of

MyRA Will Offer Retirement Accounts to Employees Without Access Through Employers

It is estimated that nearly half of American employees do not have access to retirement plans sponsored by their employers. President Obama announced in his State of the Union address that he would be ordering the Department...more

Tax Court Stingier Than IRS

Generally, amounts received by an IRA distributee are included in gross income. However, Code Sec. 408(d)(3)(A) avoids gross income if the distributee contributes the received amounts to an IRA, individual retirement annuity,...more

Be Careful With Self-Directed IRA Investment Selection

For many Americans, IRAs (individual retirement accounts) are popular and viable options for retirement savings. An IRA allows an individual to put away a certain amount of funds each year, without immediately being subject...more

Insight on Estate Planning - Year End 2013: Can portability help preserve retirement benefits?

The American Taxpayer Relief Act of 2012 (ATRA) made the estate tax exemption “portability” feature permanent. This allows a surviving spouse to take advantage of a deceased spouse’s unused federal gift and estate tax...more

Rollovers as Business Startups: A Guide to Using Retirement Funds to Start a Business

Over the past 10 years, thousands of entrepreneurs have used their existing retirement savings held by a qualified retirement plan or IRA to finance the startup or acquisition of a new business. According to industry experts...more

Insight on Estate Planning - October/November 2013: Estate Planning Pitfall: A beneficiary designation or joint title overrides...

Inattention to beneficiary designations and jointly held assets can quickly unravel an estate plan. Many don’t realize that their will doesn’t control the disposition of “nonprobate assets,” such as life insurance policies,...more

Fast-Approaching Deadline for Recharacterizing a Roth IRA Conversion

If you converted a traditional IRA to a Roth IRA in 2012, you have until October 15, 2013 to “recharacterize” the account and revert back to a traditional IRA. ...more

When You Thought It Was Safe to Go Back in the Water - Estate Tax Revisions

In January 2013, when President Obama and Congress compromised on changes in the estate tax area most commentators thought the changes (part of the American Taxpayer Relief Act of 2012) meant that further changes to estate...more

My Broker at E.F. Hutton Says..........? -- Using Private Placement Variable Deferred Annuities (PPVA) to Invest in Real Estate...

Overview - American taxpayers have approximately $4.7 trillion invested in IRAs as of 2011. Only 2 percent of these assets or $94 billion are invested in self-directed IRAs. This is a surprising result when you...more

The Ubiquity of Retirement Planning

Advice on retirement planning is being offered by many entities and forms of media these days. Those of us in the early baby boom generation are bombarded by offers to have dinner and listen to lectures as to how to invest...more

The Seven Ages of Retirement

Important decisions in planning retirement income and expenses can be made at seven ages, and the decisions made at those ages can have a substantial effect on the quality of retirement....more

Top 5 Tax Mistakes That Doctors Make

Most doctors loath dealing with financial reports and generally dealing with the business side of the practice of medicine. ...more

President Obama’s Pension Cap: Who Would Really Be Affected?

The President’s recent budget proposal would impose a new cap on tax-favored retirement benefits. Annual contributions and accruals under tax-favored plans are already limited, but this would be a complex new limit...more

Legal Alert: President's 2014 Budget Includes Employee Benefits Proposals

On April 10, 2013, the White House released its Fiscal Year 2014 Budget (the Budget), which includes a number of proposals related to employee benefit plans. Although it is unlikely that all of the proposals will ultimately...more

Say "Goodbye" to Your 401(K) Plan as You Know It?

From time to time, we hear about threats to the Social Security System – even talk about eliminating it for younger workers. Some reports indicate that about half of Americans have less than $10,000 in savings, while other...more

Why Retirement Plan Sponsors Need To Care About Plan Design

Would you leave money on the table for the government to take instead? Would you not maximize your retirement savings because your accountant or third party administrator (TPA) told you that you had to give the same amounts...more

What's New for Tax Year 2012 (When Filing in 2013)

The following are select tax topics affecting individuals and businesses for tax year 2012. Individuals - Personal Exemptions: The personal exemption is $3,800 for 2012, an increase of $100. Alternative...more

IRA Planning And Charitable Gifts

Congress extended through the end of 2013 the popular "charitable IRA transfer." This permits individuals who have reached age 70 1/2 to make income tax-free distributions up to $100,000 directly from an individual...more

Fiscal Cliff Legislation Provides New In-Plan Roth Conversion Opportunity

The newly enacted American Taxpayer Relief Act (H.R. 8) includes a significant new opportunity to perform “in-plan” conversions of pretax dollars to Roth (after-tax) dollars of funds held in defined contribution retirement...more

Summary of Income Tax Provisions in the American Taxpayer Relief Act of 2012

As you no doubt are aware, Congress just passed, and the President just signed into law, the American Taxpayer Relief Act of 2012 (the “Act”). The Act is effective as of January 1, 2013. This summary addresses certain of...more

Retirement Saving Roadmap for Young Professionals

The best retirement savings plan begins when you are young and just starting out. If you have the discipline to follow a few simple rules, by the time you reach retirement age, you should be able to do what you want, where...more

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