Timothy Sumer

It’s a new week which means we have a new Weekly Webinar episode to help you better navigate and understand your finances. This week, Mark touches on a range of wealth management topics, from recent headlines to a review of the markets, ending with tips on how you can save tax on inherited IRAs. Mark begins the webinar by touching on the headlines that have come out this week. Most recently, the Consumer Price Index released its numbers for the month of June, showing that inflation is coming down to more normal areas. However, Mark notes that the FED is still looking for a 2% inflation rate so it’s unclear if they will stop raising interest rates or if they’ll begin making cuts. He also touches on the numbers that came from the Producers Price Index as well as other recent economic indicators. Following this, Mark shares updates from the Ed Slott Group for this week, the big update being that the IRS excused any missed RMDS in 2023 within the 10-year payment period and is...

The Inherited IRA rules are confusing! **This video is not tax advice and if you're looking for advice you should seek an expert.** Thanks for watching! We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money. #retirement #retirementplanning #dohstr8 ---Ready to subscribe--- For more information visit: --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA For individuals who have inherited an IRA, the new rules that have come into effect this year have created some confusion and frustration, especially as custodians are finding it challenging to provide clarity around the rules. The new rules, which were implemented...

In December 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed. It was designed to help save for retirement and make it accessible to more people. With this bill, the rules changed on Inherited IRAs. ✅ SUBSCRIBE to NOT being a transaction ever again... ✅ Like us on Facebook! ✅ Follow us on Twitter! ✅ Check out our site for more tips Before the Secure Act, you could stretch your inherited IRAs, 401k’s, 403b’s, etc., over your life expectancy. Now, depending on who you are as a beneficiary, dictates how you must take the assets. The rule is broken down by the following 3 types of beneficiaries: Eligible Designated Beneficiaries: If you fall into this category, you may still stretch your inherited IRAs over your lifetime. Designated Beneficiaries: Designated beneficiaries must follow the 10-year rule. This group includes nearly everybody that wasn’t an eligible designated beneficiary. There are no limitati...

Inherited IRAs – New Rules You Need To Know - Make retirement planning Easier Subscribe Now: Schedule Your FREE Retirement Assessment Today Download Our Retirement Toolkit: Inheriting an IRA can be very complicated. If you have inherited an IRA or plan to inherit an IRA in the near future, then this is an important video for you. With the passing of the Secure Act at the end of 2019, the rules for how you must distribute an inherited IRA changed. There have been recent updates over the past few months that have changed the initial interpretation of the Secure Act rules. If you are inheriting an IRA from your spouse, things are still pretty simple. It is when you are a non-spousal beneficiary of the IRA that things can get complicated. It can become even more complex if the original owner of the IRA was taking Required Minimum Distributions (RMDs). The Secure Act Established the 10-year rule for inherited IRAs and in this video, we look at the exceptions to that ru...

Do you plan to inherit an IRA? If so, this is a must-watch video as the rules that mandate inherited IRAs have recently changed in 2022. You will not have mandated RMDs during the SECURE Act's 10-year window... You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to There have been a lot of rule changes in inherited IRA space over the last few years with the passing of the SECURE Act. As we sit here in 2022, the changes keep coming... We previously understood the SECURE Act's 10 year rule as having no required minimum distributions except for having to withdraw the full IRA balance by year 10. Now, however, with new IRS guidance in 2022, this 10 year rule changes drastically. You will now have ongoing, annual RMDs. Watch this video to learn more... #InheritedIRA #retirementplanning #estateplanning - - - - - - - - - - - - - - - - - - - - - - - A...

Inherited IRA rules and changes. We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money. #retirement #retirementplanning #dohstr8 ---Ready to subscribe--- For more information visit: --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA The Internal Revenue Service recently made a significant change to the rules governing inherited individual retirement accounts (IRAs). The new rules, which took effect on January 1, 2020, affect how beneficiaries of inherited IRAs can access their accounts. Under the old rules, beneficiaries of inherited IRAs could withdraw the entire balance of the account immediately. This was known a...

In today’s video, we will be talking about inheriting IRAs, and some of the rules regarding holding these “beneficiary” IRAs. I’ll also be explaining how you can also still look at this solution from a cross border perspective specifically as it pertains to Canadian resident beneficiaries. For the purpose of today’s video, an IRA can refer to a Traditional IRA, ROTH IRA, rollovers, SEP and Simple IRAs, the process and rules are the same for all. The cool part about these types of accounts you can name just about anyone, including a trust, as beneficiary. There are however different sets of rules for spouse vs. non-spouse beneficiaries. #IRA #TraditionalIRA #InheritedIRA #beneficiary #SEP #SimpleIRA #Roth #RothIRA... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA https://inflationprotection.org/inheriting-iras/?feed_id=40867&_u...

The assets continue to grow untaxed, you can choose your own beneficiaries and withdrawals are tax free. You cannot, however, let all the account just sit in the inherited Roth IRA. By Dec. 31 of the year after the year in which the owner died, you must have begun taking required minimum distributions (RMD) annually.You Can Inherit a Roth IRA. One of the greatest benefits of a Roth IRA, especially when compared to other investment assets such as a Traditional IRA or 401k retirement plan, is that a Roth IRA can be passed on to an heir when you die. There are no required minimum distributions with a Roth IRA.Generally, if the taxpayer receives distributions directly from the inherited IRA, the distributions are taxed, but the 10% penalty tax on premature withdrawals does not apply, even if the beneficiary is under the age of 59 1/2 .A Roth IRA, at the owner's death, is subject only to estate tax. The income tax paid on the conversion would reduce one's taxable estate. O...