Episode 314 - Timely Knowledge About Penalties, Beneficiaries and Taxes
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Penalties can happen to anyone, and with IRAs, there are two types that commonly occur: RMD and excess contribution. The SECURE 2.0 Act had created some significant changes regarding these penalties, so today on New Retirement Radio, Heidi will discuss these in depth and give you a deeper understanding to help you avoid them altogether!
Nathan Prout will be joining us in the studio to discuss a new class of beneficiaries called \\u201celigible designated beneficiaries,\\u201d or \\u201cEDBs.\\u201d Tune in to find out what this means for you, including advantages of EDBs versus non-EDBs and more.
Tax season is upon us, so we will share the five things you need to know when making a 2022 Roth IRA contribution. If time permits, we will discuss an article from The Wall Street Journal titled \\u201cThe Last-Minute Retirement Plan Moves That Can Cut Your Tax Bill.\\u201d Believe it or not, there\\u2019s still time to make last-minute retirement contributions that could lower your tax bill. Deann will dive into the conversation and share the latest data.
We look forward to our time with you live on WTCM AM 580 this morning from 10-11 a.m. Tune in and take control!