Springberg Wealth Management

06/10/2026

- If you inherited an IRA, go check last week’s post. If you inherited a non-retirement account, aka non-qualified, the rules are completely different.

- The first step is to re-register the account(s) in your name. When you do this, most investments receive what is called a “step-up” in cost basis. The step-up changes your cost basis to the value of the investments on the date the original owner passed away. This is extremely advantageous because when selling the investments you will only owe taxes on the amount of gains above YOUR cost basis rather than the original owner’s.

- Once you have the investment account registered to you, it may be beneficial to consult a financial professional to ensure proper asset allocation and tax-management. Questions? Give us a call at 928-855-9421.

Established in 1973, we are a third-generation wealth management firm located in the heart of Lake Havasu City. Please see website for disclosures.

06/08/2026

06/03/2026

-Inheritors of IRA’s must follow a specific set of rules depending on your relationship to the original owner.

-Under the SECURE Act, most non-spouse beneficiaries must distribute the full balance within 10 years. This is typically done by withdrawing a portion each year because these distributions are taxable, and splitting them up will help spread out your tax liability. There are certain beneficiaries that qualify for exceptions that allow these withdrawals to be stretched over their lifetime such as minor children of the original owner, someone who is within 10 years of age of the original owner and someone who is disabled/chronically ill.

-If your spouse was the original owner, then you have the unique option of simply taking over that IRA as your own. Questions? Give us a call at 928-855-9421.

05/25/2026

Happy Memorial Day!

05/22/2026

Own a business? Learn more about qualified business income deductions in this article.

An income tax deduction may be available for up to 20% of the taxpayer's domestic qualified business income.

04/30/2026

A Roth individual retirement account (IRA) is a personal savings plan that offers certain tax benefits to encourage retirement savings. Contributions to a Roth IRA are never tax deductible on your federal income tax return, which means that you can contribute only after-tax dollars. But amounts cont...