Backdoor Roth IRAs and mega backdoor Roth IRAs might sound like special types of Roth IRA accounts, but they’re actually strategies that high income earners use to get more money into Roth accounts.
The rules of inherited IRAs can be extremely difficult to understand due to the SECURE Act, yet they must be understood. The IRS has issued its final SECURE Act regulations, so we’re going to review the inherited IRA rules and explain how they can affect different beneficiaries.
Have you heard of the acronym "IRMAA?" It stands for Medicare income-related monthly adjustment amount, which is a surcharge on Medicare Part B and Medicare Part D premiums. Nobody wants to pay any more than they need to for Medicare, so let’s review the nuances of IRMAA.
Episode 112 | Modern Wealth Management Director of Tax Corey Hulstein, CPA and Modern Wealth Management Managing Director Marty James, CPA, PFS
How can you pay less taxes over your lifetime? That’s a question everyone wants to know the answer to, but there isn’t a one-size-fits-all answer. Everyone’s financial situation is different. Along with explaining the importance of having a forward-looking tax plan as a part of your personalized financial plan, Corey Hulstein, CPA and Marty James, CPS, PFS joined Dean Barber on The Guided Retirement Show to share some tax planning tips.
Episode 110 | Michelle Cannan | Modern Wealth Management Managing Director and Head of Company Retirement Plan Services
As Modern Wealth Management continues to grow, one of the additions we’re very excited about is our office in Rochester, New York. Our Rochester-based team members specialize in 401(k) plans, which are typically people’s largest asset as they head into retirement. So, we figured it would be good idea to have Michelle Cannan, CPFA™, QKA®, QKC, our head of company retirement plan services and managing director of our Rochester office, join Dean Barber on The Guided Retirement Show to discuss how a 401(k) plan works and many other nuances about 401(k)s.
Here’s a list of a few tax strategies to consider that could improve your overall tax structure during your retirement years and for your beneficiaries inheriting your estate.
Managing Directors Dean Barber and Marty James, CPA discuss some key things to keep in mind while doing year-end tax planning for 2023.
Given the complexity of the tax code and how often it changes, the education never stops for our Director of Tax Corey Hulstein, CPA. He continuously studies the tax code to help our clients and prospective clients make informed decisions when it comes to tax planning. Today, Corey is going to educate us about tax credits for qualified tuition and related costs for eligible students on the Modern Wealth Management Educational Series. Let’s learn about the Lifetime Learning Credit and how it compares and contrasts to the American Opportunity Tax Credit.
Matt Kasper reviews Roth conversion decisions for 2023 in a case study on the Modern Wealth Management Educational Series.