Recent Tax Developments

Insight by NITP, Inc.

March 2, 2020 – Host Bob Leins, CPA® welcomes Tom O’Rourke, Esquire, Miles & Stockbridge, PC., to talk about recent changes in the tax law and in particular the Secure Act.

  • Does the new law require you to revisit the strategy you have in place for managing your TSP and any other tax deferred accounts you may have?
  • Should you revisit your estate plan as a result of the passage of the Secure Act?
  • Does it continue to make sense for you to itemize deductions?
  • Increased contribution limits for the TSP.
  • Should you allocate your TSP contributions to the Roth TSP or to the traditional TSP?
  • Are you eligible to contribute to an IRA even though you are making maximum contributions to the TSP?
  • What should you do if you determine that you owe IRS money, but cannot afford to pay the liability?

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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