A practical 2026 guide to FBAR (FinCEN Form 114) and FATCA (Form 8938) foreign financial account reporting for US persons. Covers the $10,000 aggregate threshold, deadlines, non-willful vs willful penalties, Streamlined Filing Compliance Procedures, and exactly how to file through BSA E-Filing.
A Qualified Charitable Distribution (QCD) lets IRA owners aged 70½ and older move money straight from a traditional IRA to charity, keeping that amount out of taxable income. This guide covers RMD satisfaction, lowering AGI and MAGI, IRMAA, NIIT, Social Security taxation, contribution limits, and the SECURE 2.0 changes.
A practical 2026 guide to the Net Investment Income Tax (NIIT): the 3.8% Medicare surtax thresholds ($200k single, $250k married filing jointly, $125k married filing separately), which income counts as net investment income, how the lesser-of calculation works, and the planning moves that actually lower the bill.
A complete guide to the mega backdoor Roth strategy: making after-tax 401(k) contributions up to the IRC §415(c) annual additions limit, converting them to Roth via in-plan conversion or in-service rollover, the 2026 contribution-limit framework, the two hard plan prerequisites, the pro-rata rule, and how it differs from the regular backdoor Roth IRA.