Here’s a 2025 change that account owners may appreciate: Penalties for missing an RMD have been reduced to 25% from 50%. The penalty is lowered to 10% if the mistake is corrected within two years. "This shift reflects the IRS's willingness to accommodate errors, especially given the comp...
No matter where you are in life – we’re here for you through every step of your financial journey. 2024 Outlook - Wealth Management Strategies for Executives The start of the new year is a great time to assess financial strategies while positioning yourself for the next phase of interest ...
This is an expansion of the type of charity, or charities, that can receive a QCD. This amount counts toward the annual RMD, if applicable. Note, for gifts to count, they must come directly from your IRA by the end of the calendar year. QCDs cannot be made to all charities. Read ...
OpenAI has also developed other generative AI products, but the company is best known for ChatGPT. Who is the owner of ChatGPT? ChatGPT is owned by OpenAI, which has a complicated organizational structure. The start-up was founded as a nonprofit, but it discovered the model was ...