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Jane passed away at age 50 in 2021. Her IRA was left to a trust for the benefit of Jane’s...

Does an inherited Roth IRA *by a non-spouse beneficiary for death after 2019) have an annual RMD in addition to...

If I give my child a gift of $3,000 to put in their Roth IRA how would they report that...

Question: Can an Education Savings Account (ESA) be rolled into a Roth IRA under the recently enacted SECURE 2.0? 529 plans clearly can - beginning in 2024 - but I have found no reference to ESAs. Can you kindly clarify this and direct me to any literature? Thank you,

Here’s the scenario…Father passed away in late 2020; he was 89 years old. His beneficiaries were his 5 children, who...

A client of mine worked at Amazon. His stock has a basis of $ 4,863.66. Instead of rolling over the...

Last week the Ed Slott team hosted another highly successful and sold-out 2-day advisor training program at Caesar’s Palace in Las Vegas. Over 250 financial professionals from across the country attended, and we plowed through our 400-page manual. During the two day event we discussed IRA beneficiary rules, trusts as beneficiary, net unrealized appreciation, backdoor Roth IRAs, SECURE 2.0 changes, QCDs, the pro-rata rule, gifting strategies, etc.

I’d greatly appreciate any input on this situation w/ a recently (1/28/23) widowed client: She and her deceased husband, both...

1) I have a client whose mom died in August 2021. Mom had taken her RMD for 2021. Are there...

The new SECURE 2.0 law fixes a glitch that has made it difficult for new solo 401(k) plans to be opened up retroactively for a prior year. A solo 401(k) plan is a great retirement savings vehicle for self-employed business owners with no employees (other than their spouse). In a solo 401(k), the sole proprietor (or other business owner) is considered to wear two hats – as an employee and as an employer. This allows both elective deferrals and employer contributions. The 2023 elective deferral limit is $22,500, or $30,000 if age 50 or older, while the employer contributions maximum is 20% of adjusted net earnings (or 25% of compensation if the business is incorporated). There’s also an overall limit for combined deferrals and employer contributions; in 2023, it’s $66,000 or $73,500 if the $7,500 age-50-or-older deferrals are made.