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Old 08-13-2019, 10:00 PM   #661
Recycles dryer sheets
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Originally Posted by joeea View Post
Talk with your CPA and find a new way to pass your wealth to future generations most efficiently, if needed. I have one friend who is looking at life insurance as an alternative tax dodge.
The only way a CPA will be able to help is if they have a time machine. For somebody who invested heavily in tax deferred qualified assets, they're "already pregnant" with a large future tax liability. They went into it understanding that a stretch would lessen the pain. Apparently, you (and Washington) have no sympathy. Those that say "well you shouldn't have gotten pregnant then" are really a tremendous help.
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Old 08-13-2019, 10:05 PM   #662
Recycles dryer sheets
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However, it is pretty plain to see that Congress is elected every 2 years and they regularly enact new legislation, so I think that we need to assume that there is always some risk that the rules will change on us, sometimes rules we relied on, and not always in our favor.
Well, only a third of the Senate is elected every two years and (fortunately) that's where this thing is held up. I'm certain that there is a political angle on this for the house. They have to pass "something" to look like they're doing their jobs, even though it might be (and apparently is) DOA in the Senate.
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RMD going to 72?
Old 09-09-2019, 10:46 AM   #663
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RMD going to 72?

This is a “common questions about the SECURE Act” posted today by the Ed Slott group. It was written last month (August ‘19) but I don’t recall a posting here with it.

Some answers appear definite but without an actual passage signed, sealed, delivered, who knows for sure?

There’s reference to grandfathering existing inherited IRAs, which is of interest to many.

https://www.irahelp.com/slottreport/...ons-secure-act
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Old 09-09-2019, 11:01 AM   #664
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This is a “common questions about the SECURE Act” posted today by the Ed Slott group. It was written last month (August ‘19) but I don’t recall a posting here with it.

Some answers appear definite but without an actual passage signed, sealed, delivered, who knows for sure?

There’s reference to grandfathering existing inherited IRAs, which is of interest to many.

https://www.irahelp.com/slottreport/...ons-secure-act
note that for those born after june 30 this is only a one year delay. Second with historically low tax rates it makes sense to withdraw up to the top of the 24% bracket in many cases. With the other side change to how rmds are handled for inherited iras plus the likely hood that rates will go up it makes sense to start withdrawals earlier.
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