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dlzallestaxes@msn.com
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Group: Admin
Joined: 2019-06-23
Illustrious Member Admin
The main issue to be careful to be aware of with annual dist...

In forum 72t Discussion Forum

22 hours ago
One important consideration is you taxable income for 2021 w...

In forum 72t Discussion Forum

2 days ago
With the big sell-off on Friday, and possibly on Monday and ...

In forum 72t Discussion Forum

2 days ago
You will have to take distributions thru 2025 when you will ...

In forum 72t Discussion Forum

1 month ago
In addition, because your kids will be taxed in at least the...

In forum 72t Discussion Forum

1 month ago
There are some conflicting ideas being thrown around. First,...

In forum 72t Discussion Forum

1 month ago
I think that if you wanted a higher SEPP Distribution figure...

In forum 72t Discussion Forum

2 months ago
Yes. But, under normal circumstances, IRA contributions must...

In forum 72t Discussion Forum

2 months ago
Whenever one of you dies, the survivor will be in the 22% ta...

In forum 72t Discussion Forum

2 months ago
Your low tax rate now and for the foreseeable future is exac...

In forum 72t Discussion Forum

2 months ago
I was about to respond that you used the wrong age. The age ...

In forum 72t Discussion Forum

2 months ago
I didn't look at the IRS website, but you are correct that t...

In forum 72t Discussion Forum

2 months ago
Be careful. You can do only 1 ROLLOVER within a 12 month (no...

In forum 72t Discussion Forum

2 months ago
Read the information in the "2022 CHANGES" at the top. I bel...

In forum 72t Discussion Forum

3 months ago
GO TO THE TOP AREA WHICH HAS TOPICS LISTED WHITE/BLUE (I'm c...

In forum 72t Discussion Forum

3 months ago
Everything is relative. If someone has $ 1 million, and can ...

In forum 72t Discussion Forum

3 months ago
You could also try to "time the market" by setting up an acc...

In forum 72t Discussion Forum

3 months ago
The new "expectancy" tables were supposed to be effective as...

In forum 72t Discussion Forum

3 months ago
I suggest that you give us your details if you want some inf...

In forum 72t Discussion Forum

3 months ago
You didn't provide us with the template for your situation,,...

In forum 72t Discussion Forum

6 months ago
P.S. Fidelity or Vanguard do not usually care, and do not re...

In forum 72t Discussion Forum

6 months ago
We would appreciate if you would start by completing the "TE...

In forum 72t Discussion Forum

6 months ago
By the way, as you, and many others have discovered, unfortu...

In forum 72t Discussion Forum

7 months ago
It is always best for people to use tax and financial planni...

In forum 72t Discussion Forum

7 months ago
The ANNUAL AMOUNT is calculated on the day of your first wit...

In forum 72t Discussion Forum

7 months ago
Sorry, but when you set up your PLAN, it has definite factor...

In forum 72t Discussion Forum

7 months ago
At this point, it appears that taxpayers have 2 choices -- c...

In forum 72t Discussion Forum

7 months ago
No, but I’d be surprised if they would REQUIRE people to rec...

In forum 72t Discussion Forum

7 months ago
The IRS did issue guidance when the CARES Act was passed. SE...

In forum 72t Discussion Forum

7 months ago
ROTH CONVERSIONS are an excellent tax planning, retirement p...

In forum 72t Discussion Forum

7 months ago
You are correct to first question. Technically, you can nam...

In forum 72t Discussion Forum

7 months ago
NO. If he starts he SEPP in 2021, he must use the current li...

In forum 72t Discussion Forum

7 months ago
Did you use the "reverse calculator" to determine the MAXIMU...

In forum 72t Discussion Forum

7 months ago
I think that you misunderstand the "instructions". The balan...

In forum 72t Discussion Forum

7 months ago
GREAT ANSWER !!!!

In forum 72t Discussion Forum

8 months ago
You are welcome. We went way beyond the scope of this websit...

In forum 72t Discussion Forum

8 months ago
Charitable Remainder Trusts are primarily for people who are...

In forum 72t Discussion Forum

8 months ago
I rarely recommend whole life insurance, because most client...

In forum 72t Discussion Forum

8 months ago
You are correct that you could be subject to penalties and i...

In forum 72t Discussion Forum

8 months ago
You might consider having the taxes either withheld at the S...

In forum 72t Discussion Forum

8 months ago
You should use the 'REVERSE CALCULATOR" on this website to d...

In forum 72t Discussion Forum

8 months ago
I am not about to issue any opinion contrary to this profess...

In forum 72t Discussion Forum

8 months ago
I have been doing this for many years, as has Alan and the d...

In forum 72t Discussion Forum

8 months ago
Your interpretation is correct. The age 55 exception applies...

In forum 72t Discussion Forum

8 months ago
As you said, this is a complex situation. I will try to simp...

In forum 72t Discussion Forum

9 months ago
I have suggested to the moderator of this website that it wo...

In forum 72t Discussion Forum

10 months ago
Accordingly, I think that you will probably need about $ 1,0...

In forum 72t Discussion Forum

10 months ago
This table contains the maximum Applicable Federal Rates (al...

In forum 72t Discussion Forum

10 months ago
I agree with T William. I think that you misunderstood what ...

In forum 72t Discussion Forum

10 months ago
You didn't answer s to the amount of your IRA. For simplicit...

In forum 72t Discussion Forum

10 months ago
Congratulations !!! BTW, be careful about converting your ho...

In forum 72t Discussion Forum

10 months ago
Yes, you are recalculating every year, so you will calculate...

In forum 72t Discussion Forum

11 months ago
No, but it is taxable, unless you repay it before 12/31/2020...

In forum 72t Discussion Forum

12 months ago
Lots of luck finding a CPA, EA (Enrolled Agent) or Financial...

In forum 72t Discussion Forum

12 months ago
You certainly may use the fixed amortization method; e.g. ca...

In forum 72t Discussion Forum

12 months ago
The internet and "people" is not always the best place to ge...

In forum 72t Discussion Forum

12 months ago
That was my response several times above.

In forum 72t Discussion Forum

12 months ago
Dec 15 is just a CYA approach in case the financial institut...

In forum 72t Discussion Forum

12 months ago
Since your annual distribution is less than the Standard Ded...

In forum 72t Discussion Forum

12 months ago
In the past (on the previous website), sometimes the differe...

In forum 72t Discussion Forum

12 months ago
Luckily you found the original SEPP 72-T website, and this s...

In forum 72t Discussion Forum

1 year ago
I have clients who have "retired" in their 50's. If they are...

In forum 72t Discussion Forum

1 year ago
That is correct. You should get two form 1099-R, one under y...

In forum 72t Discussion Forum

1 year ago
mlvmlv -- You do so at your own peril. As I said it is 60 MO...

In forum 72t Discussion Forum

1 year ago
Sorry, I was confusing 2 different postings. Yours started 1...

In forum 72t Discussion Forum

1 year ago
I hope that you understand that English is a tricky language...

In forum 72t Discussion Forum

1 year ago
Yes. But, if you want/need money sooner than 9 monthly payme...

In forum 72t Discussion Forum

1 year ago
Yes, you can change the frequency of your distributions, but...

In forum 72t Discussion Forum

1 year ago
I'm sorry that some of the links show up as garbage, that yo...

In forum 72t Discussion Forum

1 year ago
I checked with a tax guru whose knowledge I highly respect. ...

In forum 72t Discussion Forum

1 year ago
Separately, your son should be aware that the 12% tax bracke...

In forum 72t Discussion Forum

1 year ago
I reached out to a guru on retirement plans to clarify per t...

In forum 72t Discussion Forum

1 year ago
You are correct. New "STRETCH" rules started for TRADITIONAL...

In forum 72t Discussion Forum

1 year ago
I forgot to mention that if the person who died was over 70 ...

In forum 72t Discussion Forum

1 year ago
You did not provide enough information for a "professional" ...

In forum 72t Discussion Forum

1 year ago
Accountants/tax practitioners do not handle investments, unl...

In forum 72t Discussion Forum

1 year ago
Since you have a 401-K, did the employer do his match with c...

In forum 72t Discussion Forum

1 year ago
GREAT POSTING. I would add to it the fact that most CPAs do ...

In forum 72t Discussion Forum

1 year ago
Apple turned out to be an excellent investment too. I have a...

In forum 72t Discussion Forum

1 year ago
WOW. You have made great investments. There isn't much I can...

In forum 72t Discussion Forum

1 year ago
The IRS has 11 MILLION unopened envelopes. Do you really thi...

In forum 72t Discussion Forum

1 year ago
I forgot that the IRS lowered the fee for individual PLR's. ...

In forum 72t Discussion Forum

1 year ago
With Congress going on vacation, and the forthcoming electio...

In forum 72t Discussion Forum

1 year ago
You misread the alert. The CARES ACT provision applies to AD...

In forum 72t Discussion Forum

1 year ago
I doubt that it would be anything that anyone would ever pur...

In forum 72t Discussion Forum

1 year ago
I think that you make an interesting point, with a thoughtfu...

In forum 72t Discussion Forum

1 year ago
Your basic assumption is INCORRECT. We often get postings wi...

In forum 72t Discussion Forum

1 year ago
I assume that you started with the first distribution on 4.1...

In forum 72t Discussion Forum

1 year ago
NO CHANGE FOR SEPP 72-T. IT IS SPECIFICALLY MENTIONED IN THE...

In forum 72t Discussion Forum

1 year ago
If you go to the HOME PAGE, you will see "SEPP DISTRIBUTION ...

In forum 72t Discussion Forum

1 year ago
You have several choices in your example of starting in July...

In forum 72t Discussion Forum

1 year ago
No. Whichever method that you use, you are required to take ...

In forum 72t Discussion Forum

1 year ago
You can take distributions in any frequency, and can change ...

In forum 72t Discussion Forum

1 year ago
Yes, you have various options. First, you can take either th...

In forum 72t Discussion Forum

1 year ago
YES. You completed your plan on 4/6/2020. You can do anythin...

In forum 72t Discussion Forum

1 year ago
IT WILL BUST YOUR SEPP IF YOU TAKE "ANY" ADDITIONAL AMOUNT. ...

In forum 72t Discussion Forum

2 years ago
2020 CARES ACT: NEW STIMULUS BILL DOES NOT APPLY TO SEPP 72-...

In forum 72t Discussion Forum

2 years ago
Great insight in looking for a different CPA/tax professiona...

In forum 72t Discussion Forum

2 years ago
Correct. You can take either the full annual distribution or...

In forum 72t Discussion Forum

2 years ago
Yes, you can voluntarily terminate your plan at any time, an...

In forum 72t Discussion Forum

2 years ago
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