You may have missed the news – buried in a much bigger spending bill and passed in the thick of the holiday season, but after months of nearly bringing it to the finish line, it’s now official: On Friday, December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law.
It’s hard to believe, but another year is almost behind us. With January just around the corner, now is a great time to review various items you may want to consider as you get set to enter 2018. Many of the IRS publications referenced below are for tax year 2016. Changes are not anticipated when 2017 guides are published.
There are several strategies for moving money into tax-free accounts, however, that may not always be the best choice for you. Having blended retirement accounts make sense when trying to minimize taxes and maximize sustainability.
How to Get Money Into a Tax-Free Account
There are three ways to get money into a tax-free, or ROTH IRA account.