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The flexible withdraw and contribution features of the Roth make it a valuable tool for older clients, not just younger ones.
If your clients have been paying attention to the popular media lately, they may be considering closing their Roth IRAs to take advantage of the short-term tax savings. Of course, that also means cutting into years of tax-free growth.
Sometimes the biggest favor you can do for a client is to help reduce his annual income. In addition to lowering his income tax, a client whose income does not exceed certain thresholds may be eligible for other benefits as well.
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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