SECURE Act 2.0: Major Changes to Retirement Savings and Tax Planning

Retirement savings and available tax breaks have changed substantially with the SECURE 2.0 Act of 2022. It's part of the $1.7 trillion omnibus budget bill that became law in December 2022, and it contains about 100 different provisions that may affect you.

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Amanda Cook, CPA, Tax Planning Manager at Pure Financial Advisors, provides a very high-level overview of some of the most immediate changes that will impact savers and investors, employers and employees, self-employed and small business owners, including:

How you save for retirement
Roth conversions and Roth contributions in your Roth IRA, Roth 401(k), Roth 403(b), and Roth 457
When you must take required minimum distributions from your retirement accounts
Penalties for not taking your RMD
Early withdrawal penalties
How you make charitable donations
Which tax credits apply to your tax bill
Emergency savings options

With nearly 100 changes in place and on the way, now is the time to adjust your financial plan accordingly. Make sure you're taking advantage of any new retirement reforms and tax breaks that impact you, your family, and your future. Schedule a free assessment with one of the experienced financial professionals at Pure Financial Advisors now: https://bit.ly/PureAssessment

Pure Financial Advisors, LLC is a fee-only Registered Investment Advisor providing comprehensive retirement planning services and tax-optimized investment management to thousands of people across the nation.

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IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. As rules and regulations change, content may become outdated.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

CPA - Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.