"In fact, there may never be a better time to do one, since tax rates are so low, and they're likely to rise in the future," said Ed Slott, founder of IRAhelp.com.
Ed Slott, Ed Slott & Company, and Carrie Coghill, Coghill Investment Strategies, discuss their strategies for protecting 401(k) accounts.
The Roth IRA, which turned 20 years old this month, can be especially beneficial to younger investors and offers features different from traditional IRAs.Retirement expert Ed Slott explains the pros and cons of investing in a Roth IRA.
Under the new rules, more investors will time their Roth conversions for year-end, experts predict.The sweet spot will be between Thanksgiving and mid-December, says Ed Slott, a certified public accountant and founder of IRAhelp.com.
People in high-tax areas are swarming their local town halls in a rush to pre-pay their property taxes.Ed Slott, CPA and founder of IRAHelp.com, and Carrie Coghill, Coghill Investment Strategies debate the merits of that strategy.
"My real estate taxes are about $20,000 on a regular, middle-class house," says Ed Slott, a CPA in Rockville Centre, N.Y."If you're paying that and working in New York City, where your state and city taxes can be 10 percent of your income, that's a big deduction to miss."
“Put away as much as you can, wherever you can,” says Ed Slott, a CPA and retirement plan expert based in Rockville Centre, N.Y. “You want to get the benefit of the tax shelter.”
From Roth IRAs to solo 401(k)s to SEP IRAs, workers who are self-employed have options when it comes to saving for the future
The promise of tax-free retirement income is what makes Roth IRAs so appealing, according to Ed Slott, a retirement expert and founder of IRAHelp.com.
