At The Wealth Cafe, we’ve noticed that there is an underlying assumption that inheriting a retirement account is simple, but changes to certain rules have made it a little more complex than most people realize. Since post-pandemic AKA 2020, someone who inherits a non-spousal IRA needs to be aware of important tax rules and distribution requirements that come with it. In this episode, we’ll be breaking it all down, so you and your loved ones better understand these rules, as well as avoid costly tax mistakes.

What we’ll cover:

✅ What the 10-year rule really is.

✅ Differences between Traditional vs. Roth inherited IRAs.

✅ How inherited IRA withdrawals can affect tax brackets and income.

✅ Planning strategies to reduce taxes for future generations.

We’ve seen a lot of instances where beneficiaries inherit IRAs during peak earning years and then due to withdrawals end up unknowingly increasing taxable income, pushing themselves into a higher tax bracket, and negatively impacting things like financial aid eligibility. So, as we always say, we’d recommend working with your financial team and planning early, so that you can implement strategies that can help preserve more of your wealth for future generations.

☕️For more tips and advice, make sure to subscribe to the show so you don't miss an episode!

🔍INSTAGRAM: / / https://www.instagram.com/tanisfingroup/

LINKEDIN: / / https://www.linkedin.com/in/caroline-tanis/

YOUTUBE: / / https://www.youtube.com/channel/UCHxRZmUZwZVHD4ihCu2iK-w

BLOG: / / https://tanisfingroup.com/blog/

------------

🔗CONNECT

Website: https://tanisfingroup.com/

Email: caroline@tanisfingroup.com

Are you a landlord or a real estate investor looking for help understanding how to best use a 1031 exchange to defer taxes on investment properties? If so, this episode of The Wealth Cafe is for you! We’ll provide you with insights and information that'll help you understand how a 1031 exchange can be advantageous for you and your specific situation.

What we’ll cover:

✅ Defining what a 1031 exchange is.

✅ How to maximize it.

✅ Important team members to loop in.

✅ Real-life example.

We highly recommend bringing this up to your financial team to see how you can incorporate this into your current financial plan. Having these conversations early will help your team identify if this strategy is right for you. If they aren’t capable of fulfilling your needs, feel free to get a second opinion from your friends at Tanis Financial Group. We’d be happy to help: https://tanisfingroup.com/contact/

☕️For more tips and advice, make sure to subscribe to the show so you don't miss an episode!

🔍INSTAGRAM: / / https://www.instagram.com/tanisfingroup/

LINKEDIN: / / https://www.linkedin.com/in/caroline-tanis/

YOUTUBE: / / https://www.youtube.com/channel/UCHxRZmUZwZVHD4ihCu2iK-w

BLOG: / / https://tanisfingroup.com/blog/

------------

🔗CONNECT

Website: https://tanisfingroup.com/

Email: caroline@tanisfingroup.com