Nicole Maholtz, President and CEO of Brentmark, Inc. is proud to share the following Recommended Reading list. This list has been carefully curated and sorted by topic below. If you think a book or article should be added to the list, please use the “Submit Recommendation” tab below or send us an email.
by: Ed Slott, CPA
A complete action plan to help you make sure your 401(k)s, IRAs, and retirement savings aren’t depleted by taxes by the time you need to use them.
If you’re like most Americans, your most valuable asset is your retirement savings. We diligently put money away for years, yet most of us don’t know how to avoid the costly mistakes that can occur when it comes time to use it. A good chunk of your money can be lost needlessly to taxes unless you plan ahead.
The New Retirement Savings Time Bomb, by America’s IRA Expert Ed Slott, shows you in clear-cut layman’s terms how to take back control over your retirement savings and your financial future. The ticking tax bomb is coming! But this easy-to-follow guide can help you avoid the latest traps set out by Congress and show you how to structure your retirement savings so you can have more, keep more and make it last, no matter what. This book is required reading for every American with savings and investments planning to retire—be it five years from now or fifty.
NEW FOR 2021
** Updated for The CARES Act ** | ** Updated for The SECURE Act **
- Charts and tables that summarize the IRA rules in an easy to understand and user-friendly manner.
- Frequently asked questions and clearly written responses.
- Rollover and transfer rules for retirement accounts.
- IRA Beneficiary distribution options.
Many taxpayers have accumulated a considerable amount of assets in their retirement accounts. These assets may be in their 401(k), another type of qualified plan, a 403(b) arrangement, a 457 governmental plan, a traditional IRA and a Roth IRA.
Estate and income tax planning are more important than ever, especially under the Secure Act, when advising a client that has substantial retirement type assets. The manual covers many of the rules that you need to know under the Secure Act for the client that has retirement assets. IRS Compliance is now a major issue in retirement distribution planning for IRA owners and IRA beneficiaries.
The Setting Every Community Up for Retirement Enhancement Act (SECURE Act), which became law effective January 1, 2020, contains a provision that could be financially devastating for the children and grandchildren of IRA, 401(k) and other retirement plan owners
The ticking time bomb is the provision that radically modifies the required minimum distribution (RMD) rules for Inherited IRAs and retirement accounts. Subject to some exceptions, an Inherited IRA or retirement plan will have to be distributed and taxed within 10 years of the original owner’s death. This forced income tax acceleration will decimate the savings and undermine the long-term financial plans of many hard-working retirement plan owners and their families.