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Timely Knowledge About Penalties, Beneficiaries and Taxes

March 2, 2023

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Penalties can happen to anyone, and with IRAs, there are two types that commonly occur: RMD and excess contribution. The SECURE 2.0 Act had created some significant changes regarding these penalties, so today on New Retirement Radio, Heidi will discuss these in depth and give you a deeper understanding to help you avoid them altogether!  Nathan Prout will be joining us in the studio to discuss a new class of beneficiaries called “eligible designated beneficiaries,” or “EDBs.” Tune in to find out what this means for you, including advantages of EDBs versus non-EDBs and more.

Tax season is upon us, so we will share the five things you need to know when making a 2022 Roth IRA contribution. If time permits, we will discuss an article from The Wall Street Journal titled “The Last-Minute Retirement Plan Moves That Can Cut Your Tax Bill.” Believe it or not, there’s still time to make last-minute retirement contributions that could lower your tax bill. Deann will dive into the conversation and share the latest data.
We look forward to our time with you live on WTCM AM 580 this morning from 10-11 a.m. Tune in and take control!

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Check the background of the Firm and the Investment Professional(s) on FINRA’s BrokerCheck.
Advisors associated with Prout Financial Design may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of Capital Asset Advisory Services, LLC. dba CG Advisory Services; or (2) solely investment advisor representatives of Capital Asset Advisory Services, LLC. dba CG Advisory Services, and not affiliated with LPL Financial. Investment advice offered through Capital Asset Advisory Services, LLC. dba CG Advisory Services, a registered investment advisor. Capital Asset Advisory Services, LLC. dba CG Advisory Services and Prout Financial Design are separate entities from LPL Financial.

Dennis Prout and Nathan Prout are solely investment advisors and representatives of Capital Asset Advisory Services, LLC., CG Advisory Services, and is not affiliated with LPL Financial.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
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