By Jeremy T. Rodriguez, JD IRA Analyst Tax rules can be confusing, and that can especially be the case when we are talking about the application [...]
Are you ready for the Great Wealth Transfer? By some reports, 45 million Baby Boomers are expected to transfer over $68 trillion in wealth to the next[...]
By Sarah Brenner, JD IRA Analyst Whether by choice or necessity, many Americans are still working long beyond what has traditionally been [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Is it possible to take the RMD portion of an inherited traditional IRA and convert that each [...]
By Andy Ives, CFP®, AIF® IRA Analyst Edward was born in 1950. Traditional IRA accounts would not be established until the Employee Retirement [...]
By Jeremy Rodriguez, JD IRA Analyst I’m sure you’ve heard countless advisors mention that a direct transfer (or direct rollover) is the best [...]
By Sarah Brenner, JD IRA Analyst Question: I have a question about avoiding RMDs for a still-working 72 year old in a 401k plan. Suppose they[...]
By Sarah Brenner, JD IRA Analyst It’s that time of year again. Tax season is upon us. This is now the time when many individuals consider [...]
By Andy Ives, CFP®, AIF® IRA Analyst A disclaimer is an interesting tool. It is a denial or disavowal of legal claim, or a formal refusal to [...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: My Daughter is a 30-year old RN and I want to help her contribute to an IRA. She has a 401K [...]
By Jeremy T. Rodriguez, JD IRA Analyst When a legal question is clear, I like to imagine the landscape like the great plains of the midwestern [...]
By Sarah Brenner, JD IRA Analyst Much attention is paid to the favorable options available when spouses are named as IRA beneficiaries. However, a[...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: Hello, I am a CPA and was not sure if in 2019 alimony was considered earned income for [...]
By Andy Ives, CFP®, AIF® IRA Analyst Ivan is an inventor at heart, but he is stuck in an office at a job he does not particularly care for. Ivan[...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: In 2017, I opened a Roth IRA through my company. Being over 65, I mistakenly thought I could [...]
By Andy Ives, CFP®, AIF® IRA Analyst There are many gaps. Generation gap, stop-gap, The Gap Band. In baseball you can hit into the gap. Football[...]
By Sarah Brenner, JD IRA Analyst Question: If I convert Trad IRA funds to a Roth IRA, does the ratio of After-Tax Contribution to Total IRA [...]
By Sarah Brenner, JD IRA Analyst If you have an IRA, you may have heard the term “required beginning date” or “RBD.” This is an important [...]
By Jeremy Rodriguez, JD IRA Analyst Question: Hello Ed, I have an elderly client in his 80’s, not in the best of health. He has named his [...]
By Andy Ives, CFP®, AIF® IRA Analyst When it comes to 401(k) plans, I feel like the Johnny Cash lyric…“I’ve been everywhere, man.” [...]
By Jeremy T. Rodriguez, JD IRA Analyst So, you want to invest your IRA money in real estate? Every so often we get this question from advisors [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Client passed in the middle of December 2018, but did not take her RMD. We are setting up [...]
By Andy Ives, CFP®, AIF® IRA Analyst There are a number of ways an individual can avoid the 10% early withdrawal penalty from their IRA or [...]
By Sarah Brenner, JD IRA Analyst Question: Hi I have a question about 72t "If" I am 45 years old, and calculate the amount to withdraw [...]
By Jeremy T. Rodriguez, JD IRA Analyst Mistakes happen, and when dealing with complicated rules like the U.S. tax code, they aren’t exactly [...]
By Sarah Brenner, JD IRA Analyst Marie Kondo is a decluttering and tidying expert from Japan. She has a new show on Netflix, Tidying Up with Marie[...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: I am in the process of setting up a QTIP because my current wife (age 64) is not the mother of [...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: I am in the process of setting up a QTIP because my current wife (age 64) is not the mother of [...]
By Andy Ives, CFP®, AIF® IRA Analyst If I decide to climb on the roof of my house and try to ride a unicycle while blindfolded, it is not [...]
By Jeremy T. Rodriguez, JD IRA Analyst In my last installment, I talked about one of my two favorite beginning of the year topics when it comes to [...]
By Sarah Brenner, JD IRA Analyst Question: Dear Ed, Thanks for all your work on the retirement frontier. I have a question…we have [...]
By Andy Ives, CFP®, AIF® IRA Analyst A word we don’t see much in daily conversation is “deem.” I imagine a sweeping proclamation made by [...]
By Sarah Brenner, JD IRA Analyst Roth IRAs offer a trade-off. You decide to pay taxes now on your contribution (or conversion) in exchange for [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hi Mr. Slott: I turn 70 ½ years old this year (D.O.B. 5-28-49) and must commence RMDs for [...]
By Jeremy T. Rodriguez, JD IRA Analyst When it comes to tax law and retirement planning, there are two things I like to talk about at the beginning [...]
By Beverly DeVeny IRA Analyst Question: I am 64 and opened my only Roth IRA over 5 yrs ago. I originally contributed $32.5K ($6.5K for 5 yrs) [...]
By Sarah Brenner, JD IRA Analyst Happy holidays from Slott Report! We would like to wish all of our readers and their families a joyous holiday [...]
By Sarah Brenner, JD IRA Analyst Question: Hello IRAHelp, I have a copy of Your Complete Retirement Planning Road Map and find it to be an [...]
By Jeremy T. Rodriguez, JD IRA Analyst In mid-November 2018, the IRS issued proposed regulations altering some of the rules governing hardship [...]
By Andy Ives, CFP®, AIF® IRA Analyst Jerry sells widgets for the ACME Widget Company. Jerry is a hard-working employee who participates in the [...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: Hello Mr. Slott, Thanks for your educational broadcasts. I have run into something that might[...]
By Beverly DeVeny IRA Analyst I get the same question every year at year end. “My client has an illiquid IRA and can’t take his RMD. Can we [...]
By Sarah Brenner, JD IRA Analyst If you are considering converting an IRA to a Roth IRA in 2018, time is quickly running out. Here are 5 things [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Mr. Slott, My spouse turned 70 on June 27th, 2018, so in December 2018 she will be 70 ½. [...]
By Jeremy T. Rodriguez, JD IRA Analyst One piece of advice we commonly reiterate is, when you inherit an IRA or other retirement plan asset, touch[...]
By Andy Ives, CFP®, AIF® IRA Analyst It turns out the Grinch stirs up a blizzard of trouble beyond stealing Christmas trees and presents from [...]
By Sarah Brenner, JD IRA Analyst Question: Good morning! I am hoping you can provide some direction for an issue we have encountered. In [...]
By Andy Ives, CFP®, AIF® IRA Analyst Twenty-six states have adopted revocation-on-divorce statutes similar to each other, and these statutes are[...]
By Sarah Brenner, JD IRA Analyst If you are thinking about doing a qualified charitable distribution (QCD) for 2018, time is running out. The [...]
By Andy Ives, CFP®, AIF® IRA Analyst Tim and Robert are identical twins. They wear the same clothes. They have similar hair styles. They have [...]
By Sarah Brenner, JD IRA Analyst Thanksgiving is only a few days away. This is a time when we gather together and express our gratitude for all [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: I am 70 ½ and still working in 2018. If I work part time (still employed) in 2019, can I [...]
By Andy Ives, CFP®, AIF® IRA Analyst There is a 131-page bill currently working its way through the U.S. legislature. The proposal would amend [...]
By Sarah Brenner, JD IRA Analyst The road to retirement is long. Along the way you may need to move the funds in your IRA. When that time comes, [...]
By Sarah Brenner, JD IRA Analyst Question: Dear Ed Slott team members, Would you please address the following scenario. You bought stock [...]
By Jeremy T. Rodriguez, JD IRA Analyst Like other accounts, distributions from IRAs of basis comes out tax-free. In this setting, basis would [...]
By Beverly DeVeny IRA Analyst After Hurricanes Harvey, Irma and Maria in 2017, Congress passed special legislation allowing expanded access to [...]
By Jeremy T. Rodriguez, JD IRA Analyst SIMPLE IRAs are popular retirement vehicles for small businesses. They are relatively cheap to adopt and are [...]
By Beverly DeVeny IRA Analyst IRA owners can clearly combine the accounts they own and they can combine the required minimum distributions (RMDs) [...]
By Jeremy T. Rodriguez, JD IRA Analyst Legal training is less about memorization and more about understanding how to break down complex problems. [...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: Hi, I am an advisor and attended the Instant IRA Success workshop in 2017 and found it really [...]
By Beverly DeVeny IRA Analyst I just had a call from an advisor with a “complicated” scenario. “Ralph” died and left his IRA to his spouse[...]
By Jeremy T. Rodriguez, JD IRA Analyst Generally, taking distributions from an IRA or qualified plan before retirement age should be a last [...]
By Jeremy T. Rodriguez, JD IRA Analyst Generally, taking distributions from an IRA or qualified plan before retirement age should be a last resort. [...]
By Sarah Brenner, JD IRA Analyst Question: Hi Ed: I have been reading you for more than 20 years – thank you for all your contributions [...]
By Sarah Brenner, JD IRA Analyst The news has been filled with reports of the flooding and damage in North Carolina in the wake of Hurricane [...]
By Jeremy T. Rodriguez, JD IRA Analyst Qualified plans are required to provide participants with a number of notices and information. There’s the [...]
By Sarah Brenner, JD IRA Analyst After last year’s passage of the Tax Cuts and Jobs Act, which overhauled the tax code, you might think Congress[...]
By Sarah Brenner, JD IRA Analyst Question: Good Morning, I have a question in regards to Roth 401k vs Roth IRA. Can you roll over your Roth [...]
By Jeremy T. Rodriguez, JD IRA Analyst We constantly see questions regarding the distribution rules for Roth IRAs. Personally, I’ve always thought[...]
By Sarah Brenner, JD IRA Analyst A recharacterization is a tax-free transfer of funds from one kind of IRA to another. If you converted a [...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: Hi Read your column in the Chicago Tribune and have learned a lot. I have a question I [...]
By Jeremy T. Rodriguez, JD IRA Analyst Every so often, the IRS or the courts remind us that the exceptions to the 10% early distribution penalty [...]
By Sarah Brenner, JD IRA Analyst You may understand the basics of how an HSA works. The fundamental premise is not so complicated. If you have a [...]
By Beverly DeVeny IRA Analyst Question: Hello, I met Ed Slott at an FPA function where he spoke in Independence Ohio, several years ago. I [...]
By Jim Glass, JD IRA Analyst As summer ends and fall approaches, so does the season for taking required minimum distributions (RMDs). There is a [...]
By Sarah Brenner, JD IRA Analyst You may ask if you should leave your IRA to a trust. This can be a complicated question. Trusts can be complex [...]
By Sarah Brenner, JD IRA Analyst Question: To whom it may concern, Quick question. Client’s daughter died at age 41. Client is age 71. [...]
By Beverly DeVeny IRA Analyst For years we saw and heard the commercials – rollover your 401(k) to an IRA. They suggested that this was the only[...]
By Jeremy T. Rodriguez, JD IRA Analyst One of the most important things you learn in law school is how the law is structured. You are better able to[...]
By Jim Glass, JD IRA Analyst Question: Mr. Slott, My 45 year old daughter’s financial advisor has recommended for her NOT to put retirement [...]
By Jim Glass, JD IRA Analyst IRAs have beneficiaries and "designated beneficiaries," and it is important to know the difference. If you wish your [...]
By Sarah Brenner, JD IRA Analyst Follow Us on Twitter: @theslottreport Even rock stars get older. Although it may seem hard to [...]
By Beverly DeVeny IRA Analyst Follow Us on Twitter: @theslottreport Both my husband and I turn 70 this year but only one of us has a required [...]
By Jeremy T. Rodriguez, JD IRA Analyst Follow Us on Twitter: @theslottreport As you accumulate money in an employer retirement plan, somewhere [...]
There has been talk in Congress about indexing capital gains for inflation. This has largely been under the radar… until this week when the story [...]
IRA distributions and Roth IRA conversions can affect the size the Medicare premiums you pay. Here's how, and what to do about it. Means Testing [...]
Do you have after-tax dollars in your IRA? This could be from making nondeductible contributions to your IRA or rolling over after-tax funds from your[...]
Not all contributions to IRAs belong there. When a contribution is not permitted in an IRA, it is an excess contribution and needs to be fixed. Some [...]
Question: Hi, I have a friend, 45 years old, who has both an individual Roth IRA and an individual rollover IRA. The Roth is over 5 years old. [...]
Contributing to a Roth IRA is generally considered to be a good idea. But not everyone is eligible to make an annual contribution. We have seen [...]
As Americans live longer, more are eventually coming to need long-term nursing home care. The cost of this can be devastating to a family. Nursing [...]
Question: Can you do trustee-to-trustee transfer from an Annuity Trad IRA to Mutual Fund Trad IRA? Answer: Yes. If you own a traditional IRA [...]
Every retirement plan custodian has an interactive website that participants can visit, if their employer offers that feature. While all are a little [...]
Change can be good. Is your IRA ready for a change? Maybe you are looking for a new type of investment or maybe a new IRA custodian. To change it up [...]
Question: My husband passed away this April at 83. I’m 68 and sole beneficiary of his traditional IRA. I was advised that it didn’t matter if[...]
When someone keeps telling you not to worry about them doing a certain thing, you know they are thinking about doing that very thing. That’s what[...]
After retiring, your taxable income may consist entirely of IRA distributions and investment returns. You'll have two ways to remit the tax owed on [...]
Question: Client is over 70 1/2 and passed away in 2018 and did not take their 2018 RMD yet. There are 4 non-spouse beneficiaries who are opening [...]
An inherited IRA can be a great thing for the beneficiaries. It is almost like winning the lottery or the Reader’s Digest sweepstakes. You get [...]