Menu

Category: Tax Planning

529 to Roth IRA Rollovers: What to Know
529 to Roth IRA Rollovers: What to Know
Beginning in 2024, 529 plan holders can roll their accounts into Roth IRAs without paying taxes or penalties. Having unused or leftover funds in a 529 plan account has been welcome news for many families. […]
Read More
Changes in Marginal Tax Bracket, Deductions, Credits and Exclusions from 2023 to 2024
Changes in Marginal Tax Bracket, Deductions, Credits and Exclusions from 2023 to 2024
31 Jan 2024
·
Tax season is upon us, and we are here to provide you with the essential updates that have been released by the IRS regarding the 2024 tax year. The main updates are inflation adjustments to […]
Read More
What is IRMAA?
What is IRMAA?
Ah, retirement. The golden years, where you’re supposed to sit back and relax on a beach without a care in the world, right? But wait, what’s this? The Income-Related Monthly Adjustment Amount (IRMAA)!? Okay, so […]
Read More
Leveraging Qualified Charitable Distributions
Leveraging Qualified Charitable Distributions
Navigating the tax code to identify tax planning opportunities is tricky for the average joe. Even Albert Einstein said, “The hardest thing to understand in the world is the income tax.” With tax season wrapping […]
Read More
Navigating Mutual Fund Capital Gains Distributions: Unraveling the Phantom Income Tax
Navigating Mutual Fund Capital Gains Distributions: Unraveling the Phantom Income Tax
30 Nov 2023
·
As an investor, you most likely have a clear goal in mind: to grow your wealth over time while minimizing risk. Mutual funds have long been a popular choice for investors in pursuit of this […]
Read More
How RMDs Work
How RMDs Work
A Required Minimum Distribution (RMD) from a retirement account is exactly what it says – required, mandated, a “must-do”.  It’s a specific, calculated amount that must be distributed from the account each year you live […]
Read More
The Roth Conversion Window
The Roth Conversion Window
Retirement planning can be a complex and often daunting task, with numerous strategies and options to consider. One powerful tool that often goes underutilized is the Roth conversion. This financial maneuver allows you to optimize […]
Read More
Do I Need a Trust?
Do I Need a Trust?
6 Nov 2023
·
Many high net worth individuals will come to the point where they ask themselves the question, “Do I need a trust?” Estate laws can be confusing, and getting advice from an unqualified source can make […]
Read More
Section 1031-Tax Deferred Exchange
Section 1031-Tax Deferred Exchange
22 Feb 2023
·
A POWERFUL BUT OFTEN OVERLOOKED TOOL  Over the years, BentOak Capital advisors have advised and assisted numerous clients in deferring thousands of dollars in taxes on real estate transactions using the legal deferral techniques afforded […]
Read More
How Secure Act 2.0 Could Affect You In 2023
How Secure Act 2.0 Could Affect You In 2023
One of the more impactful pieces of the December 2022 Consolidated Appropriations Act that passed into law is the so-called Secure Act 2.0.  You may remember the original Secure Act from December 2019 that reshaped […]
Read More