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Passing Shots

The Fifth Set Blog

Topics: 401k, Fiduciary, Roth IRA, Taxes, Traditional IRA

Four Strategies for Managing the SALT Deduction Cap

For those who live in states with high income tax rates like New York or New Jersey, you may have been impacted by the 2017 Tax Cuts and Jobs Act which limited the State and Local Tax (SALT) deduction to $10,000. Following are four strategies  …read more »

The SECURE Act – Congress passes significant new retirement plan legislation

In the final session of 2019, Congress passed and the President signed, the SECURE Act (The Setting Every Community Up for Retirement Enhancement Act), a significant piece of legislation that contains several important updates and changes for investors.  Among the most significant are the following:  …read more »

The “Back Door” Roth IRA Strategy

The “Back Door” Roth Strategy Until 2010, high income investors could not contribute to Roth IRAs or convert Traditional IRAs to Roth IRAs.  The Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) included a provision that, beginning in 2010, removed the income limitation for  …read more »