How to Treat Inherited Individual Retirement Accounts

May 24, 2022By Kimberly Hoang
How to Treat Inherited Individual Retirement Accounts

The SECURE Act, which became effective on January 1, 2021, changed the rules for inherited IRAs. Prior to that, the rules were very beneficial to non-spousal beneficiaries. The act upended the “life expectancy” rule for distributions and, in its place, created the 10-year rule for non-spousal beneficiaries. The act establishes a time period of 10 Read the full article…

Maximize Education and Savings Credits

September 7, 2017By Anna Chen
Maximize Education and Savings Credits

It’s that time of the year when parents usually wrestle with canceled checks, old receipts, and monthly statements from banks, credit card companies, and mortgage brokers. This arduous task of settling every possible payment is done to lower federal income taxes. As a parent or guardian, you should be aware of the huge opportunities available Read the full article…