Tax

A Roth conversion “not only to minimize heirs’ tax burden but also to sustain the growth of [their] retirement savings."

The sweeping retirement legislation, called the Secure Act, is gaining plenty of headlines. One revision is being overlooked.

The HSA has become increasingly valuable for future medical expenses, "and the triple tax benefit simply can’t be ignored,” an expert says.

They are advised to consider making amendments if they want to take advantage of temporary tax provisions that Congress extended retroactively in December.

Why do advisors focus so heavily on planning for a lifestyle change that may never happen?

Pre-retirees are encouraged to save aggressively and create a list of things they plan to spend their money on without remorse, an expert says.

While it’s recommended they have at least three sources when they retire, just 6.8% of savers have done so, according to a report.

While they don't need a child to claim the earned income tax credit, the benefit's value increases based on the number of kids clients have.

As the wealthy often sidestep estate taxes, one law professor offers a code change that forces heirs to pay income and payroll taxes on all inheritance.

Relief comes as a result of the short notice firms were originally given to comply with the Secure Act, the agency says.

Retirement savers stand to gain more by investing their money instead of taking an interest-free reimbursement.

Retirees may benefit from moving money to various locations that offer better savings rates and returns.

Although the federal penalty was axed for those who failed to register for a plan, some states will continue to impose the coverage mandates.

“The advice I give is to calculate the financial impact for each option,” an expert says.

Along with other decisions, dating the amount of money they need to withdraw would help them in retirement planning and spending.

The potential for higher taxes next year may accelerate deals.

Failing to pay taxes on side-gig earnings and keeping faulty records of business-related expenses must avoided to prevent an excessive tax burden.

This rise of the so-called grey divorce has created a number of uncommon and complex issues for retirement accounts.

Ill-prepared investors are advised to vigorously plan their expenses and aggressively save in their 401(k)s and IRAs.

The accounts will be managed through Wealthscape, allowing advisers access to their client’s finances to help manage rising healthcare costs.