Regulations

The SECURE Act of 2022 (SECURE 2.0) now allows for owners of Traditional and Roth IRAs to make higher additional catch-up contributions provided the owner is age 50 or older. Prior to the new provision, the catch-up was fixed at $1,000 but now it is indexed for inflation in $100 increments. This new provision is […]

It is not a good idea to name your estate as the primary beneficiary of your self-directed IRA or to have your estate become the beneficiary of the self-directed IRA by default if you don’t complete a beneficiary election form. Make sure to periodically review your self-directed IRA beneficiary forms to ensure they are up-to-date. […]

QUESTION: My sister and I were named as the non-spousal beneficiaries of my dad’s self-directed IRA. We are in our 50s and my dad passed away in 2023. My mom had already passed away about 5 years back. Can we stretch the self-directed IRA payments over our life expectancy? ANSWER: Stemming from the SECURE Act, […]

Whether a distribution from a self-directed Roth IRA is taxable or not depends on whether it is considered qualified or nonqualified. Qualified Roth IRA distributions are not taxable. However, if it falls under the non qualified category then only part of it (generally the earnings) is taxable resulting in the payment of income tax and […]