“If you convert a 529 plan to a Roth IRA prior to the Financial Aid calculation, and if it happens within the same academic year or within 2 years prior to the financial aid award year, then it would be subject to a ‘look back’ period,” says Mina Tadrus, CEO of Tadrus Capital in Tampa. “The time requirement under which it will be seen only as a Roth IRA is within the same academic year or within two years preceding the award of financial aid.”
“Still, Mina Tadrus, chief executive at Tadrus Capital, said he thinks the recent upswing is simply part of crypto’s natural volatility. Investors remained worried that
“Negative impacts of a bank failure such as SVB or Signature on customers and investors may include “a decrease in overall account settings, liquidity issues
SECURE 2.0 Creates Backdoor Child IRA Opportunity
“If you convert a 529 plan to a Roth IRA prior to the Financial Aid calculation, and if it happens within the same academic year or within 2 years prior to the financial aid award year, then it would be subject to a ‘look back’ period,” says Mina Tadrus, CEO of Tadrus Capital in Tampa. “The time requirement under which it will be seen only as a Roth IRA is within the same academic year or within two years preceding the award of financial aid.”
Source: Forbes
Author: Chris Carosa
Continue reading here: https://www.forbes.com/sites/chriscarosa/2023/01/05/secure-20-creates-backdoor-child-ira-opportunity/?sh=221114073594
Share:
More Posts
Here’s why bitcoin is rallying after collapse of Silvergate, SVB and Signature
“Still, Mina Tadrus, chief executive at Tadrus Capital, said he thinks the recent upswing is simply part of crypto’s natural volatility. Investors remained worried that
Biotech Stocks and the SVB Collapse – Here’s What We Know
“Mina Tadrus, MA, JD, founder and chief executive of Tadrus Capital, says these firms will need to find alternative sources of cash — all while
The Silicon Valley Bank collapse: What you need to know
“Negative impacts of a bank failure such as SVB or Signature on customers and investors may include “a decrease in overall account settings, liquidity issues
Money Life with Chuck Jaffe Podcast
Send Us A Message