What are the requirements that a trust needs to meet to be qualified?

June 30, 2024 No Comments

A: The requirements that a trust must meet to be qualified are as follows: The trust must be a valid trust under state law or would be except for the fact that there is no corpus. The trust must be irrevocable or will, by its

What are the requirements that a trust needs to meet to be qualified?

July 7, 2024 No Comments

What are the Roth 401(k) contribution limits?

June 30, 2024 No Comments

A: The current contribution limit for a designated Roth 401(k) account for the 2018 fiscal year is $18,500. In addition, account-holders over the age of 50 may make catch-up contributions of up to $6,000, for a potential total annual contribution of $24,500. Catch-up payments are

What are the Roth 401(k) contribution limits?

July 7, 2024 No Comments

What are the steps to applying for a Canada Pension Plan (CPP)?

June 30, 2024 No Comments

A: To apply for the Canada Pension Plan, complete the application online, or print it out and mail it to Service Canada. If you fill it out online, there are two steps to the process. First, complete your application online and submit it electronically. Then,

What are the steps to applying for a Canada Pension Plan (CPP)?

July 7, 2024 No Comments

What are the tax consequences of a Roth IRA?

June 30, 2024 No Comments

A: The tax treatment of a Roth IRA distribution depends on whether the distribution is qualified. Qualified distributions from Roth IRAs are tax and penalty free, but non-qualified distributions may be subject to tax and an early-distribution penalty (known as an excise tax). Generally speaking,

What are the tax consequences of a Roth IRA?

July 7, 2024 No Comments

What are the top Social Security scams targeted at the elderly?

June 30, 2024 No Comments

A: Elderly recipients of Social Security benefits are a highly targeted group for online con artists. Some scams operate over the phone, typically through callers impersonating Social Security Administration (SSA) employees who solicit personal information from senior citizens. Other scams originate online using email or

What are the top Social Security scams targeted at the elderly?

July 7, 2024 No Comments

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