SECURE Act 2.0 Summary
On December 23, 2022, Congress passed a new tax bill that will have a huge impact on Americans’ lives in the upcoming years. At WJ, we have been researching and clarifying all the new 92 provisions so we may continue to be a valuable resource to all our clients. Below is a list of key points we feel will have the biggest impact to our client’s lives. New Required Minimum Distribution Age If... READ MORE
How Does the SECURE Act Impact You?
Back on December 20th, President Trump signed the “Setting Every Community Up for Retirement Enhancement (SECURE) Act” into law, which was part of a larger spending bill to continue funding the government. Many of the key provisions are perceived to be positive and allow for more flexibility, while others will impose some new limitations. Most of the provisions became effective on January... READ MORE
End of Year Tax-Smart Charitable Giving
This year we've discussed different types of tax-smart charitable giving strategies with several clients. Click here for a short video from Charles Schwab that discusses some of these strategies. For individuals age 70.5 or older and required to take a minimum distribution from their traditional IRA's (known as a required minimum distribution, or RMD for short), another method to give to... READ MORE