Losing a loved one is never easy, and inheriting an IRA often adds another layer of complexity during an already difficult time. The financial decisions surrounding an inherited IRA are frequently time-sensitive and can have significant long-term tax implications. While it may seem like a windfall, you need to factor in the tax implications.
Starting in 2026, high earners age 50 and older must make catch-up contributions to an employer plan (401k, 403b, 457(b), etc.) as Roth contributions (after-tax contributions). High earners are defined as participants who earn in excess of $150,000 in FICA wages (indexed annually) the previous year, starting with 2025 wages.
One Big Beautiful Bill Act Notable Tax Changes On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act. The OBBBA makes permanent many provisions of the Tax Cuts and Jobs Act of 2027 (TCJA) that were set to expire come January 1, 2026. Now that we are in 2026, we wanted to summarize below the notable provisions affecting the taxation of individuals.
2026 Important Numbers
A guide to key planning actions to complete before year-end to help optimize your financial, tax, and estate outcomes.
The "One Big Beautiful Bill Act" (OBBBA or OBBB) is a significant piece of U.S. federal legislation, signed into law by President Donald Trump on July 4, 2025. The OBBBA is designed to provide substantial tax cuts, primarily by making permanent many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) that were set to expire at the end of 2025.
2025 Important Numbers
The 2023 fiscal year-end government funding bill contained legislation that makes the most significant changes to the U.S. retirement savings system in decades. The SECURE 2.0 Act builds on retirement savings changes passed in 2019 and contains new provisions that further raise the required minimum distribution (RMD) age, shift to automatic plan enrollment and provide for new matching/emergency withdrawal opportunities.
Be prepared for the 2019 tax season by following these five tax organization tips.