Advisors have two years to make big tax-saving moves for their clients, says Ed Slott. After that, a legislative window could close that opportunity forever.
The tax- and retirement-planning expert on why a series of phased conversions could make sense if higher tax rates are a possibility.
Tax and retirement planning expert Ed Slott discusses the ins and outs of distributions for these frequently inherited investment accounts.
Plus, Ed Slott of IRAhelp.com is back to answer another question from a Money Life listener.
Also on the show, Len Estabrooks, owner of West Bridgewater Coin and Jewelry — who Chuck and Gail went to when they sold some old jewelry and coins in September — talks about the nuances of the cash-for-gold business, there’s a Book Interview with Patrick Fisher, co-author of “The Compound Code: An Expert Guide to Trading Stocks and Options,” and Ed Slott of IRAhelp.com is back to answer questions from the Money Life audience.
Also on the show, Ed Slott of IRAhelp.com discusses the year-end tax considerations investors should be thinking about now, David Trainer of New Constructs comes up with a Thanksgiving turkey, revisiting a Danger Zone pick that has gone all the way to zero and another pick that seems headed for bankruptcy, and Sam Huisache discusses a Clever Real Estate study showing that housing prices in states that have legalized recreational cannabis use are higher and rising faster than property values in states in which marijuana remains illegal.
The year was 1994 and my husband and I were in the market for our first house. I had my heart set on moving to the town where I grew up, a Chicago suburb with a quick commute into the city and charming vintage homes. My new husband, bless him, was willing to go along with that plan, even though it would mean living right by my mom and dad. He knew how much I loved them, and he loved them, too.
When Congress passed the Secure 2.0 Act in late 2022, retirement savers cheered at a host of changes in rules for required minimum distributions from tax-deferred accounts like IRAs.
Some of the changes are straightforward—such as raising the starting age for RMDs to 75 in 2033 from 73 today and 72 last year (and up from 70½ as recently as 2019).
Tax- and retirement-planning expert Ed Slott delves into qualified charitable distributions and donating appreciated securities.
Advisor recommendations on IRA rollover transactions are fiduciary advice under the Labor Department’s proposed new fiduciary rule, and “would fall within the scope of investment advice,” according to Ed Slott of Ed Slott & Co.
