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Retirement Planning

PNB MetLife Immediate Annuity Policy Maturity Calculater Pension of 43600/- Monthly [Video]

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PNB MetLife Immediate Annuity Policy Maturity Calculater Pension of 43600/- Monthly

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Retirement Planning

Stimulus Package Update - FINALLY! $1000 For Social Security & Retirement [Bernie Update] [Video]

✮ Stimulus Package Update ✮Watch 👉🏻 https://www.youtube.com/playlist?list=PLXiTYQA6z-K5Klop-v5_TDmTLC_7S8RlqHi everyone,this is a CHANNEL for updating Stimulus Package Update everyday.Fourth Stimulus Check UpdateChild tax credit 2021IRS tax refundsStudent Loan ForgivenessIRS stimulus checks4th & 5th Stimulus Check UpdateUnemployment tax situation4th stimulus check updateInfrastructure Billstimulusstimulus checkirs get my paymentstimulus check updatestimulus updatestimulus package updatestimulus packagestimulus check statusstimulus billfourth stimulus checkstimulus newsstimulus check 2021new stimulus checknext stimulus checkstimulus check 44th stimulusnew stimulus packageThank you#IrsGetMyPayment#StimulusBill#4thStimulus

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Retirement Planning

IMPORTANT NEWS!! Build Back Better Bill Restricts Back Door IRA and Mega Back Door Roth 401k! [Video]

IMPORTANT NEWS!! The House passed the Build Back Better Bill today and has restricted the Back Door IRA and Mega Back Door Roth 401k. They also closed out Roth Conversions for high income earners ($400K/$450k) and included the $10M cap on total retirement account balances (delayed effective dates).The self-directed restrictions in prior versions of the bill are out (big win for self-directed IRAs). The bill now moves to the Senate for consideration and vote.Directed IRA has helped thousands of self-directed investors and has processed over half a billion in self-directed transactions. It is the highest-rated self-directed IRA custodian based on verified google reviews and takes pride in providing knowledgeable and helpful service to its customers.Self-directed accounts can be fully opened within 5 minutes using Directed’s online e-sign application. https://directedira.com/open-accounts/​The Self-Directed IRA Summit is an annual educational event (1 ½ days) providing live self-directed IRA education and networking and is hosted by Directed IRA. You can register for the upcoming Summit or can buy the recording of prior years at https://sdirasummit.com/​Mat Sorensen’s book, The Self-Directed IRA Handbook, is the number one book on self-directed IRAs and has sold over 30,000 copies. You can purchase the book and follow important updates at https://sdirahandbook.com/​

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Retirement Planning

Will the “Build Back Better” Plan Eliminate Roth IRAs - Mega Backdoor Roth IRAs for Good?SUBSCRIBE to NOT being a transaction ever again... https://bit.ly/33TpKqDLike us on Facebook! https://www.facebook.com/Stop-Being-Sold-524309451006118Follow us on Twitter! https://twitter.com/stopbeingsoldVisit us on the web: https://stopbeingsold.com/The recent version of the Build Back Better Act has brought back retirement law changes that will curb high balance accounts and popular wealth building strategies including backdoor Roth IRAs and after-tax 401(k) contributions. The goal: Tax the wealthiest taxpayers to help pay for the new Social and Climate bill that is currently being debated in Congress.History of Roth: A Roth IRA can be a great way to save for retirement since the accounts have no required minimum distributions and you withdraw the money tax-free.The Roth IRA was introduced as part of the Taxpayer Relief Act of 1997.Is named for Senator William Roth, the author/founderHere’s some of the fine print:Backdoor Roth IRA’sBackdoor Roth IRA’s – These are where someone makes too much to contribute to a Roth IRA, and they can put non-deductible contributions to an IRA and immediately convert to a Roth (owing no taxes)Eliminated by limiting rollovers and conversions to taxable accounts after Dec 31, 2021.Backdoor Mega Roth IRA’sSame as the Backdoor Roth, except it allows much greater amounts to be deposited.Prohibits all after-tax contributions to 401(k)s after Dec. 31st, 2021.Also prohibits converting existing after-tax IRA amounts to a Roth IRA after Dec 31, 2021.Both Backdoor Roth and Mega Roth IRA’s are regardless of income levelRoth ConversionsEliminates Roth conversions for higher income earners above $400k for individuals and $450k for married couples after Dec 31, 2021.New contribution limitsProhibits new contributions for IRA holders with a total of $10 million in IRA assets.Applies to married couples with income over $450,000, and individual income over $400,000New distribution rules for larger accountsRequired to take a special minimum withdrawal of 50% of the amount over $10 million the year following you reaching this number.More restrictive provisions over $20 million.Begins Dec 31st, 2028New Reporting RequirementsRecordkeepers (TD/Schwab/Fidelity) will be required for annual reporting of all accounts over $2.5 million.Also, reporting of where the assets are held (Roth/Traditional)Begins dec 31, 2028Once this data is available it could lead to lowering the threshold of Special Minimum Withdrawals from $10 million to who knows whereLonger timeframe for IRS to go after violators (6 years, instead of 3)Stay tuned to this channel as this information is very fluid.. mega backdoor roth, roth ira withdrawal tax rules, roth ira eliminated, roth conversion eliminated, backdoor roth

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Retirement Planning

Roth IRAs are a great retirement planning tool for many taxpayers. Contributions to a Roth IRA are not tax-deductible, however, the earnings can grow tax-free, and distributions from a Roth IRA at retirement are tax-free as well. Roth IRAs, however, are not available for certain taxpayers with Modified AGI above certain thresholds. View our video on Traditional IRAs:https://youtu.be/mTKgKmaiMzwSubscribe to the channel for more episodes and tutorials. Purchase our tax guides and tutorials here:https://www.udemy.com/user/jason-knott-2/https://gumroad.com/jasondknottCheck out our website for more posts:https://www.lawofficesofjasonknott.com/blog/Need more help? Schedule a consultation:https://calendly.com/jason-knottFollow Jason here: Twitter: https://twitter.com/jasondknottInstagram: https://www.instagram.com/jasondknottTikTok: https://www.tiktok.com/@jasondknottLinkedIn: https://www.linkedin.com/in/jason-d-knott/Patreon: https://www.patreon.com/jasonknottQuora: https://www.quora.com/profile/Jason-Knott-17#IRS #IRA #RothIRADISCLAIMER: I am a licensed attorney and certified public accountant (CPA) in the State of Florida. I am not a financial advisor. The information provided in this video is for entertainment purposes only. No such communication is provided in the course of an attorney-client relationship, and no communication is intended to constitute legal advice. You should speak with your own tax and legal professionals to discuss your circumstances before performing any of the tax, legal, or accounting strategies demonstrated in this video. Thank you.