The tax and retirement expert shares how to get organized and implement techniques for long-term tax savings.
While most provisions of the tax overhaul known as the Tax Cuts and Jobs Act are set to expire at the end of this year, there is one important exception in the domain of retirement planning — the elimination of the so-called Roth conversion “recharacterization” rules.
“There is no downside to inheriting an IRA other than not being able to handle it,” says Ed Slott, president of Ed Slott & Co., an IRA distribution firm in New York. “I’ve worked with parents and grandparents who don’t talk to their kids about inheritance. The kids get a windfall but don’t realize it’s taxable.”
There is still time to make individual retirement account (IRA) contributions for 2024. Sarah Brenner, director of retirement education at Ed Slott & Company, joins Brad Smith on Wealth to break down what taxpayers need to know before the April 15th contribution deadline.
Robert “Bob” Powell sits down with Ed Slott, IRA Expert, Professional Speaker, and Author, who makes his case for Roth conversions. Ed goes into detail about the complexities of IRA beneficiaries and how to maximize your tax bracket. Find out how legislation such as Secure Act 2.0 impacts your retirement savings in this week’s episode of Decoding Retirement.
Health savings accounts are a powerful wealth accumulation vehicle. They are one of the few account types with a triple tax benefit — tax-free paycheck deferrals, no taxes on account growth and no taxes on withdrawals for qualified medical expenses.
Retirement and tax expert Ed Slott breaks down his tips on year-end retirement planning and changes to missed RMD penalties.
With the imminent return to the White House of Donald Trump, the tax outlook is coming into focus. And the nation’s wealthiest taxpayers, who were facing a halving of the lifetime estate and gift tax exemption (currently $13.6 million) at the end of 2025, may have dodged a bullet.
The tax and IRA expert weighs in on tax-savvy retirement planning, Roth conversions, and the new rules for inherited IRAs.
Ed Slott, founder of Ed Slott and Company, sits down with InvestmentNews anchor Gregg Greenberg to recommend end-of-year tips to save on taxes and maximize retirement accounts.
