How can you reduce taxes, IRMAA, net investment income tax, and required minimum distributions when you’ve got too much money in your tax-deferred retirement account - and just how much Roth conversion should you do? Plus, can you contribute to a Roth by transferring stocks “in kind”? If the check you send off to pay your estimated taxes isn’t cashed before the deadline is it late? How does SECURE 2.0 impact 529 plans, and is 529 better than Roth IRA for college savings? Finally, the fellas spitball a 401(k) in-plan Roth conversion and retirement account consolidation strategy.
Timestamps:
00:48 - We Have Too Much in Traditional IRA. How's Our Roth Conversion Plan? (Kelly, Idaho)
10:54 - Can I Make a Roth IRA Contribution by Transferring Stocks “In Kind”? (GDO, Delco)
14:36 - How to Pay Estimated Taxes: If My Check Isn’t Cashed Immediately, Is It Late? (Judi, San Diego)
16:51 - 529 Plan vs. Roth IRA: Does SECURE 2.0 Affect 529 College Savings? (George)
20:49 - 401(k) In-Plan Roth Conversion and Retirement Account Consolidation (Steve, Maine)
27:07 - The Derails
Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-423):
Tax Takedown: brand new YMYW TV and companion guide
2023 Tax Planning Guide
Episode Transcript
Ask Joe & Big Al On Air
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