IRA Tax Tip: Form 5498 Coming Soon

    May 18, 2017 2:15 PM by Brian Dobbis

    Don’t be alarmed. You didn’t do anything wrong. It’s purely informational.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS  

    Tax season is in the rearview mirror, but if you own an IRA, you most likely will receive one more tax-related document sometime in the next couple weeks: IRS Form 5498, which is an IRA activity statement.

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    Taxes on Retirement Plan Distributions Could Rise Significantly

    May 12, 2017 9:30 AM by Brian Dobbis

    Both the Trump and House proposals would apply ordinary income tax rates.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    In last week’s column, I discussed the potential impact comprehensive tax reform would have on retirement accounts. This week, I will drill down on a specific proposal that’s included in the Trump administration’s plan and the “Better Way” Tax Reform Blueprint released in July 2016 by the House Republican leadership, because it could have a material and lasting impact on most small-businesses’ incentive to establish or maintain an employer-sponsored retirement plan.

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    Will Retirement Savers Lose Some Tax Advantages Under Tax Reform?

    May 8, 2017 11:15 AM by Brian Dobbis

    Defined contribution (DC) plans and IRAs may not be sacrosanct.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    In my 20-plus years in the retirement industry, I can’t recall a time when plan participants, plan sponsors, advisors, and practitioners have had to prepare and digest so many breaking developments simultaneously, including: the Department of Labor’s fiduciary rule; state-run auto IRA plans; increased litigation; health savings accounts; and the (potential) impact of tax reform on retirement accounts. Then there’s the onslaught of headlines, such as you’re not saving enough, or are you’re saving too much; rollover decisions; Social Security solvency; Roth versus pretax deferrals; Roth conversions; passive versus active investing; target-date funds—and more!

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    What Happens to Your HSA When You Die?

    April 26, 2017 11:00 AM by Brian Dobbis

    Depending on whom is the named beneficiary, the tax result may greatly differ.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Naming a beneficiary for your retirement account is one of the most important administrative tasks an investor is compelled to complete. This routine paperwork also applies to tax-advantaged health savings accounts (HSAs). 

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    Using 403(b) Plans to Fund Retired Ministers’ Housing Allowance

    April 24, 2017 11:15 AM by Brian Dobbis

    With the right planning and tax guidance, retired ministers can thank heaven for tax-free lodging payments from qualified plans.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    While millions prepared for Easter and Passover, I received a spate of questions about the ways qualified clergy and retired clergy can be compensated using tax-free distributions from 403(b) plans. 

     

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    Last-minute Retirement Tips for Your 2016 Tax Return

    April 12, 2017 3:35 PM by Brian Dobbis

    Take advantage of the tax-filing deadline of April 18 by rolling more into your nest egg. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    The tax-filing deadline is only days away. The usual deadline of April 15 falls on Saturday this year, which normally would give taxpayers until the following Monday to file. However, because Monday, April 17, is Emancipation Day, a holiday observed in the District of Columbia, the tax-filing deadline nationwide is pushed to Tuesday, April 18. 

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    SEP IRAs: Pep for Small Business Owners

    April 7, 2017 9:45 AM by Brian Dobbis

    Funding a SEP IRA can save on taxes as well as increase retirement savings. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    With the 2016 tax-filing deadline date of April 18, 2017 quickly approaching it’s a good time to review one of the ways a small business owner can benefit from a SEP IRA.

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    Time to Review the Array of IRA Reporting Requirements

    March 31, 2017 10:00 AM by Brian Dobbis

    With tax-filing deadlines approaching, you might want to file our interactive guide for future reference.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    As an owner of, or advisor to, clients with IRAs, you understand the importance of complying with the government’s ever-changing and expanding tax-reporting and disclosure requirements for tax-advantaged retirement accounts. You’re also aware of how daunting a task it can be. Running afoul of rules can be both time consuming and expensive.

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    Small-Business Retirement Plans: Explore Tax Credits

    March 24, 2017 12:18 PM by Brian Dobbis

    Certain business owners may be eligible for tax relief in the form of credits in connection with establishing a retirement plan.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Many small businesses are unaware that they may be eligible for a tax credit in connection with the establishment of a group retirement plan. The small-business tax credit offsets some, if not all, of the start-up expenses credit for establishing and administering certain retirement plans. Not surprising, a recent survey by Pew Charitable Trusts shows that 71% of small- and medium-sized businesses don’t offer retirement plans, in part because they’re too costly to set up.1  (See Chart 1.)

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    IRA Season 2017: Top Tips from Our Webcast

    March 16, 2017 2:43 PM by Brian Dobbis

    Advisors had plenty of great questions during our March 7 session. Here’s how to catch the replay.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    With more and more clients looking to shore up their tax-advantaged nest eggs, there was an incredible turnout for last week’s retirement planning webcast, “IRA Season 2017: Top Tips and Strategies.”   

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