What Happens if I Take a Bigger RMD?

Benjamin Long IRA, RMDs

“Sometimes only taking the minimum IRA distribution can be a costly mistake. When deciding how much to withdraw this year, you need to consider the …

What Is the Required Minimum Distribution for 2021?

Benjamin Long RMDs, Trusts

“Whether you need to take required minimum distributions to live or find them to be a nuisance, here are some tips to make the most …

Inherited IRAs Require Careful Handling

Benjamin Long Beneficiaries, IRA, RMDs, Survivor Benefits, Trusts

“One wrong decision can lead to expensive consequences, and good luck trying to persuade the IRS to give you a do-over.” For those who inherit …

Social Security and Medicare and the Impact on Retiree Taxes

Benjamin Long IRA, Medicare, RMDs, Social Security

“Medicare has a series of income limits that trigger increasingly higher payments for retirees. And it’s not just the rich who are affected.” A 70% …

Are You Making the Most of the Secure and Cares Acts?

Benjamin Long Income Tax, IRA, RMDs

“There have been several law changes that affect IRAs passed since December 2019.” The SECURE Act made a number of changes to IRAs, effective January …

Tapping an Inherited IRA?

Benjamin Long Beneficiaries, Estate Planning Attorney, Inheritance, IRA, RMDs

“When a loved one dies, any leftover IRA funds they had, goes to whomever they labeled as beneficiaries. If you’re a beneficiary, you have to …

Elder Abuse Continues as a Billion-dollar Problem

Benjamin Long 401k, Dementia, Estate Planning, Estate Planning Attorney, IRA, Power of Attorney, RMDs, Wills

“The official figure for elder financial fraud used by a congressional committee is around $3 billion a year, but that’s based solely on reported cases …

Massive Changes to RMDs From Stimulus Plan

Benjamin Long IRA, RMDs

“Here are the highlights of the most recent tax changes found in the $2 trillion coronavirus relief bill, which the Senate has approved, and the …