Award-winning global customer service.
★★★★★ 5/5
Dimov Tax is rated 5 stars on all major review platforms including Google, Yelp, Facebook, Angie’s List, Better Business Bureau, TaxBuzz, Thumbtack, Upwork, Bark, and much more.

The new Secure Act 2.0 was signed into law in late 2022 and tackles several retirement planning concerns. One notable change is the increase in the age for required minimum distributions (RMDs) to 73 years old for individuals born between 1951 and 1959, and 75 years old for those born in 1960 or later, effective 2023. Additionally, the Act introduces two significant charitable planning options:
1. The ACT provides for an annual increase (indexing for inflation) of the annual limit for qualified charitable distributions (QCDs) starting in 2024. Individuals who are required to take RMDs can use the QCD election to satisfy the RMD requirement while also making charitable donations. This can result in a lower taxable income for the taxpayer, which can reduce their tax liability. The QCD is a powerful tool for charitably inclined taxpayers who are over 70.5 and have traditional IRAs.
2. The Act has introduced a new type of QCD that allows taxpayers aged 70.5 years and older to transfer up to $50,000 from their IRA to create life income plans, such as charitable gift annuities (CGAs) and charitable remainder unitrusts or annuity trusts (collectively, CRTs).
Dimov Tax is rated 5 stars on all major review platforms including Google, Yelp, Facebook, Angie’s List, Better Business Bureau, TaxBuzz, Thumbtack, Upwork, Bark, and much more.
Call us today at (866) 681-2140, email us at info@dimovtax.com, or fill out the form and we’ll get in touch immediately.
"*" indicates required fields