Who’s the BOSS?

BOSS is an acronym that we use to refer to the four key people everyone must consider with respect to retirement planning, i.e., developing an income exit strategy and ensuring all IRAs, 401(k)s and similar plans are set up properly:

Beneficiary
Owner
Spouse
Survivors

Without proper beneficiary designations, your retirement assets could default to your estate. This would destroy the opportunity for your heirs to enjoy a Multi-Generational distribution strategy. This strategy allows heirs to “stretch” distributions over their individual life expectancies while the remaining retirement assets continue to grow on a tax-deferred basis (or even a tax-free basis if it’s a Roth).

BOSS reviews should always be FREE services – they are offered by retirement distribution experts and tax professionals who are affiliated with America’s Tax Solutions™.

More Updates

CRDS AND ROTH CONVERSIONS – ABUSE OF THE RULES?

The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or workplace retirement plan. A CRD avoids the 10% early distribution penalty for those under 59 1/2, can be

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Rolling Over an RMD

Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the new normal—at least for this year. RMDs are considered the first money out of an IRA and workplace plan. Typically, these dollars are ineligible to

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Tapping Into Retirement Accounts If Not Directly Impacted By COVID-19

The recently-­‐enacted Coronavirus Aid, Relief, and  Economic Security Act (CARES  Act) signed by President Trump  on  March  27, 2020, allows  “qualified individuals” to take up  to  $100,000 of  penalty-­‐free IRA and company plan withdrawals during 2020. “Qualified individuals” include those who are (or whose family members are) sickened by the virus or who have virus-­‐related

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