Retirement Dictionary

Dec 7, 2023 | retirementdictionary.com | Denise Appleby

529 vs ESA: Summary of Distributions and Transfers Rules529 PlansESA PlansAge limitNoneThe balance in the account generally must be distributed within 30 days after the earlier of the following events. a.     The beneficiary reaches age 30, unless the beneficiary is a special needs beneficiary. b.     The beneficiary’s death.

Nov 29, 2023 | retirementdictionary.com | Denise Appleby

RMDs can be tricky. Know how to avoid missteps that result in owing excise tax to the IRS. By Denise ApplebyIRA owners and beneficiaries must take their required minimum distributions (RMDs). Failure to take RMDs by the deadline will result in the IRA owner or beneficiary owing the IRS an excise tax.

Nov 13, 2023 | retirementdictionary.com | Denise Appleby

By Denise Appleby, Appleby, CISP, CRC, CRPS, CRSP, APAMany taxpayers agree that making a contribution to an IRA is a good way to help fund a retirement nest egg. However, choosing which of the two IRAs to fund is not an easy decision to make for most. This is due in part to the many factors that should be taken into consideration, including the affordability of giving give up any tax deduction now in exchange for tax-free distributions later. We review some of these factors in this article.

Nov 13, 2023 | retirementdictionary.com | Denise Appleby

IRS Announces IRA and Plan Limits for 2024by Denise Appleby (Connect with Denise on LinkedIn)The IRS issued Notice 2023-75  in which they provide retirement plan limits for 2024. Only some of the limits were changed from those that were in effect for 2023. The following are the highlights.

Aug 2, 2023 | retirementdictionary.com | Denise Appleby

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