Q: I'm 62, single, no children, self-employed.I'm slowly recuperating from COVID, although I'm a long way from recovered.
I have a Roth IRA and a rollover IRA
2020 will be a year to remember for decades to come.In the world of tax and retirement planning, it’s brought opportunities for advisors to present to clients
Can you really make millions and pay little or nothing in taxes, and do it legally?Absolutely
Q: I have two Roth IRAs at separate brokerage firms.I want to name my wife as beneficiary for one account and my son as beneficiary for the other.
When I die, can my wife convert her account into her own Roth IRA so she does not have to withdraw the money in 10 years
The IRS released new guidance Friday on taking coronavirus-related distributions from retirement plans in IRS Notice 2020-50.
Coronavirus-related distributions were created under the CARES Act to help those in need withdraw funds penalty-free from their retirement savings.The CARES Act also allows CRD income to be spread over three years and CRDs to be repaid within three years.
Last month, I outlined how the CARES Act would affect required minimum distributions (RMDs) from retirement plans.But with complex legislation, new questions always arise
In addition to the catastrophic health situation caused by coronavirus, many of your clients are also getting hurt financially, especially in their retirement accounts.You may be able to help them take advantage of several new relief provisions that most of your clients can benefit from immediately.
Every month, IRA expert Ed Slott is taking your questions about Individual Retirement Accounts.One is about a potential tax benefit for some retirees included in the "Coronavirus Aid, Relief, and Economic Security Act,” or CARES Act.
People with retirement accounts have seen losses through no fault of their own and they need a helping hand
What the new rules say about paying taxes on inherited funds
Starting this month, IRA expert Ed Slott is taking your questions about Individual Retirement Accounts.He starts by addressing what to do about new rules in the 2020 SECURE Act that affect most beneficiaries who inherit tax-deferred funds starting this year.
