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Category Archives: Tax Education

DOL Fiduciary Rule Enforcement Officially Delayed

When we last left the topic of the Department of Labor (DOL) Fiduciary Rule, it was facing yet another onslaught from Congress. Also, the Securities and Exchange Commission (SEC) discussed pushing a separate fiduciary standard. But even with constant threats of modification, the chance of separate rules and additional attacks by outside parties, the DOL […]

Changes to your 401(k), IRA and other qualified plans coming in 2018

Despite what you may have heard recently, don’t expect drastic changes to your 401(k), IRA or other retirement plan before year’s end. It’s true that the possibility of changes to your 401(k) plans shook the financial industry last week. Republicans floated the idea of generating revenue lost as a result of proposed tax cuts by […]

Congress acts to provide relief to victims of Hurricanes Harvey, Irma and Maria

Much like the Katrina Emergency Tax Relief Act of 2005 and relief for victims of Hurricane Matthew last year, Congress, the Internal Revenue Service (IRS) and other entities are providing relief to victims of recent disasters. Congress recently passed the Disaster Tax Relief and Airport and Airway Extension Act of 2017, or H.R. 3823, with […]

A Primer on Unrelated Income: UBTI and UDFI

Retirement accounts like Self-Directed IRAs are attractive investment vehicles largely due to their tax-advantaged status. But if you hold a limited liability company (LLC), limited partnership (LP) or certain real estate-related assets, among others, your investment could generate unrelated business taxable income (UBTI) and/or unrelated debt-financed income (UDFI). In this introduction to unrelated income, we […]

What If I Contributed More to My IRA Than Is Allowed?

If you’ve contributed more to an IRA than is allowed by IRS rules, then you’ve made what’s called an excess contribution. As a result, you may be subject to additional taxes and penalties. However, you may have time to correct the excess contribution. And depending on how and when the correction is made, certain taxes […]