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Contribution or conversion? Help your clients make savvy decisions on growing their Roth IRAs while minimizing taxes on these retirement savings before the April 18, 2016 deadline.
Excess IRA contributions often go undetected, resulting in significant excise and income taxes for clients. An audit of IRS Form 5498 can help you identify a client’s excess contributions in time, so you can make necessary corrections by the applicable deadline and avert possible penalties.
While several key tax provisions have been extended—some permanently—other “miscellaneous” changes can impact your clients for 2015 as well as 2016. Here’s the scoop on the new rules affecting QCDs, SIMPLE IRAs, 529s, ABLE accounts, and more.
Are you prepared to assist your clients with IRAs in a community property state? Rules differ throughout the country, making it important that you are aware which clients may be affected and how the laws may impact their IRAs.
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