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The new Roth 401(k) gives clients a back door into a Roth IRA and allows tax-free distribution of earnings once certain age and time requirements are met.
You can take money out of a Roth IRA at any time, but if you fail to pass the qualification tests, you could run afoul of the ordering rules. Here's an overview of how to liquidate Roth IRAs correctly to minimize taxes and penalties.
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Savvy Tax Planning School for Advisors
With Debra Taylor, CPA/PFS, JD, CDFA
June 6–7, 2024, Chicago, IL
The Discovery Meeting Workshop: Transform Your Discovery Process
May 20–21, 2024