News & Press

Tax and IRA expert Ed Slott shares tips for earning a tax break on charitable contributions.

Tax and IRA expert Ed Slott discusses the benefits of selling depreciated securities, along with must-knows about the wash-sale rule and cost-basis elections.

Tax and IRA expert Ed Slott says that people taking required minimum distributions may have a bit of sticker shock this year.

Tax and IRA expert Ed Slott on when conversions can result in the greatest tax savings—and what to know before you execute them.

What do I need to rock my financial life before year end?You’re in luck because we’re bringing in the “A” team, with great advice from two titans: Barbara Corcoran and Ed Slott

Millions of retirees will get friendly reminders from their banks and brokerages in coming weeks to take required withdrawals from their 401(k)s or other retirement accounts by the end of the year.

The annual ritual might feel particularly painful this time, with the S&P 500 down nearly 25% for the year through September.Many retirees will have to withdraw and pay taxes on a bigger percentage of their nest eggs than they might prefer, because the formula for calculating the required minimum distribution, or RMD, is based on the account’s balance at the end of last December—before the markets sagged.

Florida residents who suffered financial losses from Hurricane Ian might be able to tap their retirement accounts to cover emergency expenses, a last resort more victims of natural disasters are using.

Is there a recommended strategy for taking required withdrawals from retirement savings in this horrible market? I’m a buy-and-hold investor; normally, I would just hunker down, not look at my balances, and ride out this storm. Unfortunately, the Internal Revenue Service makes me sell stocks at the worst time. Any recommendations for this unprofitable task?

When the Covid-19 pandemic arrived in 2020, many individuals took advantage of a federal tax break and withdrew money from their retirement accounts.

If they repay the funds—which isn’t required—by next year, they’ll get another tax break, too.

If you are younger than age 59½ and want to withdraw money from your individual retirement account, there are several exceptions that could allow you to do so without incurring the 10% early-withdrawal penalty from the IRS.

One such exemption being used more often is a so-called 72(t) plan.