Although investors have experienced a bit of volatility recently, stocks have been trending up for the better part of a decade.
IRAHelp.com’s Founder Ed Slott joins The Final Round to to discuss the steps you can take to utilize tax laws to maximize your retirement and tax benefits.
"You still have to get that SEP payment in on time, so don't wait until Oct.15 when financial institutions and advisors will be inundated with last minute requests
“As you get closer to retirement, income is more important than savings because savings — especially if they’re in the market — are not guaranteed, and savings can run out,” Slott tells Yahoo Finance.
“At least you can get back to tax planning – comparing this year to last year,” Slott said.“Now … you have something to compare ‘19 to ‘18 that looks similar.”
Divorce is stressful enough, but it's also worth bearing in mind the tax and retirement planning considerations.
The changes would be particularly helpful for the growing number of people who are working into their seventies, says Ed Slott, founder of IRAHelp.com.
The qualified charitable distribution is a great way to be charitable and get a tax benefit.But not everyone who wanted to take advantage of the QCD in 2018 was able to.
Taking away the so-called stretch IRA option will likely push those who had been using it toward more active planning, like buying insurance within a trust, Slott says.
We're just through the 2018 tax season, and retirement expert Ed Slott says that there are some valuable takeaways for people who converted traditional IRAs to Roth.
