The SECURE Act 2.0 contains over 100 retirement and tax-related provisions that may affect you and your financial plan for the future. In this webinar, Pure Financial Advisors' Tax Planning Manager, Amanda Cook, CPA, JD reviews some of the changes that will impact your retirement planning and tax strategies, including:
Required minimum distribution (RMD) ages and early withdrawal penalties Qualified Charitable Distribution (QCD) rules and limits More tax-free Roth account savings options than ever before Retirement saving incentives IRA RMDs and catch-up contributions Student loan payment match Emergency savings and withdrawals 529 plan savings for college education
Questions answered: - Will the RMD penalty being lowered actually hurt us? - Does a Roth IRA conversion count as an RMD distribution? - If you make a mistake is the RMD penalty on the full amount, or on what you did not pay? - What SECURE Act 2.0 provisions impact those who have already retired? - Does the elimination of the RMD in 2024 apply to those already retired and not yet 73? - Will all employers that have a 401(k)/403(b) be required to do automatic enrollment for new employees starting in 2025, not just new 401(k) plans? - When must employees pay the tax on employer Roth contributions? - With the new ability to roll excess 529 funds into a Roth up to $35,000, can I open a 529 plan now with myself as beneficiary, retire at 60, then at age 75, move it to my Roth? - Is there any reason to keep money in an employer 401(k) account instead of rolling it into an IRA? It seems to me that you would always want to take advantage of IRA rules (like the rollover to a ROTH.) - And more!
Pure Financial Advisors, LLC is a fee-only Registered Investment Advisor providing comprehensive retirement planning services and tax-optimized investment management to thousands of people across the nation.
IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor. • Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CPA - Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period. JD – The Juris Doctor (JD) degree is usually required to practice law in the United States. It is considered the first degree in law and is required for eligibility to sit for the bar examination. While the JD entitles a person to apply for and take any state’s bar exam, it does not allow him or her to practice law before being admitted to the bar. The specific requirements for a JD vary from school to school. Generally, the requirements include completing a minimum number of class hours each academic period and taking certain mandatory courses such as contracts, torts, civil procedure, and criminal law in the first year of law school. All states require that students pass a course on professional responsibility before receiving a JD degree.
