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Withdrawals for non-medical expenses would no longer be penalty-free under the proposal.
August 2 -
“We can’t overestimate the influence of having access to employer-sponsored retirement plans," an expert says.
July 29 -
For retirees, dipping into their traditional retirement accounts could trigger an income tax bill while withdrawing from Roth accounts might not result in a tax liability.
July 25 -
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An average couple aged 65 who are about to retire this year will need $285,000 to cover healthcare expenses.
May 28 -
As much as 46% believe Medicare will cover the costs of long-term care.
May 23 -
Those who fail to meet the cutoff face a penalty equivalent to 50% of their required minimum distribution.
March 29 -
A higher standard deduction makes itemizing deductions less valuable.
March 26 -
Clients are advised to diversify their tax positioning when investing for retirement, one expert says. This can be done by contributing to three buckets: taxable, IRA (pretax) and Roth (posttax).
January 2 -
Nonprofits may experience a decline in revenue as more taxpayers are expected to opt for a standard deduction this year.
November 20