Archive for 'May 2017'

    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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