The Secure Act 2.0 is ever-evolving and has brought up some important questions recently, so let’s go over them!

Laurie Kaplan, CPA, partner at Michael Silver, joins Nicole for her second time on the show to continue their discussion about the Secure Act 2.0. Laurie goes over what has been finalized in the act for 2023 and looks ahead to 2024 and 2025. She clears up confusion around various topics including the Required Minimum Distributions when inheriting an IRA, changes in retirement plans, the rules and implications of annuities and IRAs, and the importance of tax planning. Laurie also discusses the new Roth IRA rollover option, the penalty reduction for missed RMDs, and the benefits of having both Roth and traditional IRAs.

Laurie discusses: 

• The Secure Act 2.0 provisions and potential impact on retirement plans
  
• What has been finalized in the act for 2023 and what we can anticipate for 2024 and 2025
  
• Changes to required minimum distributions, Roth IRA rollover option for 529 plans, and penalty reduction for missed RMDs
  
• Explanation of annuities and IRAs, including single life expectancy and joint annuity options
  
• Designation of beneficiaries for retirement plans and consequences of not having one or if the designated beneficiary is deceased or not updated
  
• Premiums and surcharges associated with Medicare based on adjusted gross income (AGI)
  
• And more
  

Resources:

• Highlighting The Key Changes In Secure Act 2.0 With Laurie Kaplan (Ep. 16)
  

Connect with Nicole Romito: 

• LinkedIn: Nicole Romito
  
• MyPrivateVista.com
  
• info@myprivatevista.com
  
• Call: 312-831-4370
  

Connect with Laurie Kaplan:

• MichaelSilver.com
  
• Call: 847-982-0333
  
• LKaplan@MichaelSilver.com
  
• LinkedIn: Laurie Kaplan
  

About Our Guest: 

Laurie Kaplan, CPA, has been serving as a trusted advisor to clients for over 25 years, expertly managing and addressing tax and accounting issues within various industries, including manufacturing and distribution, retail, restaurants, real estate, automobile dealerships, and professional service providers. Her background in both accounting and tax, as well as her consultative approach, allows her to partner with clients and develop innovative solutions to address their personal and business needs. She specializes in employee benefit plans, estate and gift tax, like-kind exchanges, and small business start-ups.