Timothy Sumer

On July 14, the IRS issued Notice 2023-54, which gave some people good news regarding rules for inherited IRA distributions. The notice provides relief for 2023 missed RMDs for non-eligible designated beneficiaries who must follow the 10-year payout rule. It also extends a 60-day rollover deadline for those who took or who were given unnecessary IRA distributions in 2023 to roll them back into their accounts. Dean Barber and Bud Kasper further discussed these rule changes for inherited IRA distributions on America's Wealth Management Show. Timestamps: 00:00 – Introduction 01:35 – It’s Confusing 03:01 – Three Types of Beneficiaries 05:27 – Why Did the Govt. Do This? 06:08 – TRIVIA 07:00 – Traditional IRAs Are BAD for Wealth Transfer 09:45 – IRS Notice 2023-54 12:10 – Tax Reduction Strategies 12:54 – Roth IRA to Eliminate Uncertainty 16:59 – Dean Tells a Charitable Story Reducing Taxes 19:03 – What We Learned Today Tax Reduction Strateiges: SECURE Act Content Special N...

Dean Barber and Bud Kasper always have a blast when they attend Ed Slott’s Elite IRA Advisor GroupSM workshops. At the workshop they attended in April in Baltimore, they reviewed several things to consider before doing Roth conversions. Dean and Bud are going to give a brief recap of what they discussed at the workshop as they go over pros and cons of converting to a Roth IRA on America’s Wealth Management Show. Timestamps: 00:00 - Introduction 02:10 - Dean & Bud's Top 3 Reasons to Convert (or Not) 08:04 - Ed Slott's Reasons to Convert (or Not) 20:44 - What We Learned in Today's Show More on this episode: See Our Calendar: Start Planning: Inherited IRA Rules: RMD Age in 2023: What's Your Required Beginning Date?: Podcasts with Ed Slott Creating a Tax-Free Retirement: Understanding the SECURE Act 2.0: How to Avoid the Biggest Tax Traps: Ed Slott In-Studio: Retirement Plan Checklist: Tax Reduction Strategies: Tax Rates Sunset in 2026 and Wh...

A traditional IRA and a Roth IRA are similar but have several key differences. Brian Leitner sits down with Rachel Kowalczyk, director & senior wealth advisor at Mariner Wealth Advisors, to discuss how converting a traditional IRA to a Roth IRA can benefit you, as well as what key financial indicators to look for to determine if this process is right for your financial situation. 0:00 Intro 0:18 Basics of a Roth IRA and a Roth Conversion 0:58 Why to do a Roth Conversion 2:53 Forecasting if a Conversion is Right for You 5:23 General IRA Considerations 6:35 Outro #retirement #RothIRA #401k For more information, please visit us online at Subscribe and listen to our podcast, Your Life Simplified Apple Podcasts - Spotify - CONNECT WITH US ON SOCIAL LinkedIn - Facebook - Twitter - Instagram - =================================================================================== These videos are limited to the dissemination of general information and are not int...