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Tag Archives | Retirement Tax Law Changes

Plan ahead for the 3.8% Net Investment Income Tax

High-income taxpayers face a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. The NIIT applies only if modified adjusted gross income (MAGI) exceeds: $250,000 for married taxpayers filing jointly and surviving spouses; $125,000 for married taxpayers filing separately; and $200,000 for unmarried taxpayers and heads of household. The amount […]

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4 New Law Changes That May Affect Your Retirement Plan

If you save for retirement with an IRA or other plan, be aware there’s a new law that makes several changes to these accounts. For example, the SECURE Act repealed the maximum age for making traditional IRA contributions. Before 2020, traditional IRA contributions weren’t allowed once you reached age 70½. Starting in 2020, an individual […]

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