Inherit an IRA? Don’t Lose a Fortune to the 10-Year Rule Tax Trap! What You Need to Do NOW!
If you inherited an IRA after 2020, you may be facing a ticking tax clock. The SECURE Act essentially eliminated the “Stretch IRA” for most non-spouse beneficiaries, replacing it with a strict 10-year rule. Many people are confused by required minimum distribution or RMD rules associated with an Inherited IRA (also known as a Beneficiary IRA). Not only are the rules confusing, but missteps can cost you tens of thousands of dollars in unnecessary taxes!
In this video, Mike Palmer, CFP® and founder of Ark Royal Wealth Management, breaks down the confusing new IRS regulations and how to avoid the biggest mistakes that could cost you thousands in unnecessary taxes.
What You’ll Learn:
The 10-Year Rule Explained: Who it applies to and why you can’t ignore it.
Crucial Exceptions: Learn the important exemptions from the new 10-Year rule.
How Mike helped a complete stranger save $7,162 in tax penalities.
The 2025 Deadline: Why you must start taking RMDs in 2025 to avoid a 25% penalty.
The “Tax Bomb” Mistake: Why taking just the minimum can lead to a massive tax bill in year 10.
Strategic Distribution Planning: Mike reviews two case studies on how to take strategic withdrawals to keep your total tax bill as low as possible.
๐Book a Call with Mike Palmer, CFP®
https://ift.tt/yi8QPG7…
๐ Read Mike Palmer’s column in Kiplinger → https://ift.tt/JpogCbl
๐Timestamps
[00:05] - The Phone Call
[00:50] - The Basics of The Secure Act & Bene IRAs
[01:35] - The Secure Act & Stretch IRAs
[01:45] - The 10-Year Rule
[02:22] - The #1 Mistake of DIYers
[02:40] - The Mystery of the Phone Call Revealed
[03:40] - The IRS Clears Up Confusion & Grants Relief
[04:35] - The Hidden Tax Bomb
[05:03] - Case Study 1 - Julie
[05:25] - Common Mistake - Using the Right Divisor for RMD
[07:47] - Case Study 2 - Bob
[09:02] - Every Situation is Different & Requires Customized Planning
๐๐๐จ๐ง'๐ญ ๐๐จ๐ซ๐ ๐๐ญ ๐ญ๐จ ๐ฌ๐ฎ๐๐ฌ๐๐ซ๐ข๐๐ ๐ญ๐จ ๐จ๐ฎ๐ซ ๐๐ก๐๐ง๐ง๐๐ฅ ๐๐จ๐ซ ๐ฆ๐จ๐ซ๐ ๐ฎ๐ฉ๐๐๐ญ๐๐ฌ.
https://www.youtube.com/@arkroyalwealthmanagement/?sub_confirmation=1
๐ Stay Connected With Us.
Facebook: https://ift.tt/nuNsiwD
LinkedIn: https://ift.tt/j2OcY7W
Website: https://ift.tt/BczgOFS
=============================
๐ฌSuggested videos for you:
▶️ https://www.youtube.com/watch?v=XOhlP4ydT90&ts
▶️ https://www.youtube.com/watch?v=egDCbglrl60&t
▶️ https://www.youtube.com/watch?v=_Y8_CXdARgE&t
▶️ https://www.youtube.com/watch?v=VAqqDi_Gue0&t
▶️ https://www.youtube.com/watch?v=SI-kdApvj2I&t
▶️ https://www.youtube.com/watch?v=WaDbkTtEYOw
▶️ https://www.youtube.com/watch?v=sufxUY_0tDo
▶️ https://www.youtube.com/watch?v=j8jIiG7RGw8
=================================
✅ About Ark Royal Wealth Management.
Welcome to Ark Royal Wealth Management! We’re a Raleigh and Charlotte-based firm dedicated to helping you make smart, informed decisions about your money. Our team, founded by Mike Palmer, CFP®, in 2015, brings over 30 years of wealth management experience. We believe in being truthful, trustworthy, and transparent, values that guide everything we do.
On this channel, you’ll find expert insights on investing, financial planning, retirement strategies, and tax-saving techniques. All of our advisors are Certified Financial Planners™ who work together to provide personalized, strategic guidance. Join us on your journey toward financial clarity and confidence.
For Business inquiries, please use the contact information below:
๐ฉ Email: mpalmer@ark-wealth.com
๐ Want to make smarter decisions with your money? Subscribe for expert insights on investing, financial planning, retirement, and tax-saving strategies.
https://www.youtube.com/@arkroyalwealthmanagement/?sub_confirmation=1
=================================
๐ Related Phrases:
#InheritedIRA #SECUREAct #RMDs #FinancialPlanning #TaxStrategy #RetirementPlanning
https://www.youtube.com/watch?v=tzkf1dflbdI
via Ark Royal Wealth Management
https://www.youtube.com/channel/UCVpo_9eJdigAdxCOpr5yCsg
December 28, 2025 at 08:44PM
from Ark Royal Wealth Management https://ift.tt/vT8IXYD
