IRA Update

Recently I had the opportunity to attend a seminar given by Jeffrey Levine that was sponsored by Bruton Financial Partners (www.brutonfinancial.com/).

Jeffrey Levin, CPA, is an Ed Slott and Company IRA Technical Consultant (https://www.irahelp.com/about-us/our-team/ira-technical-experts) . If you are not familiar with Ed Slott (https://www.irahelp.com/aboutEdSlott.php)  he is a nationally renowned expert on IRA’s.

Bruton Financial Partners is a locally based financial planner located in Downingtown who is a member of the Ed Slott Master Elite IRA Advisor Group (https://www.irahelp.com/EliteGroup).

Mr. Levin stops in the area twice a year to update attorneys and CPA’s on current developments in the IRA area. He will generally review recent cases and IRS rulings.

It is remarkable how many people suffer unintended consequences from what should be simple transactions.

What I take away from each of Mr. Levine’s presentations (I have attended several) is the importance consulting with a qualified individual BEFORE taking any action with respect to your IRA’s, Roth IRA’s, 401-K, 403-B or any other similar qualified retirement plan. When dealing with such plans, it is generally not a “that cannot be done” issue, it is more likely a “this is the way you have to do it” situation.

Mr. Levine emphasized what I learned many years ago when I took tax courses in law school, tax laws are not always logical.

It is generally recommended tat you seek the assistance of your attorney whenever there is a significant change in your personal circumstances. Retiring or making a change to your retirement investments would warrant a review of the proposed changes.

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