The federal government made some tax law changes at the end of 2019. There were a lot of changes in IRA's, 401Ks and other provisions. In this video we will discuss three things that changed in IRA rules. The first change is that they eliminated the stretch option on inherited IRA's and replaced it with a 10 year rule. For RMD effective 2020, the age was raised to 72 and lastly, no contribution limit on the traditional IRA. Other tax law changes involve birth or adoption distribution, non tuition fellowship, compensation for IRA purposes, and non deductible IRA contribution can be made with certain foster care payments. #2019taxlawchanges #taxlaw #IRA Trusted Advice. Personally Delivered.... ( read more )
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The year 2019 has brought a bunch of changes to the tax laws that affect Individual Retirement Ar
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)