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Summer is almost here, as the unofficial start to the summer season begins with Memorial Day weekend. To celebrate, we open some IRA, tax and retirement planning mail and answer several of your most pressing questions. This week's Slott Report Mailbag looks at some intricate IRA issues along with a question about the provisions in the new tax law.

Client’s son came to me thinking that he wanted to roll over his 401(k). Two years ago at age 53,...

My 85-year old widowed client inherited two retirement plans from her husband in 2011. I believe distributions were going to...

There are a number of excuses, more formally known as exceptions, that you can use to get out of the 10% penalty and lessen your tax burden. One such exception is for disability. Below, we discuss five important facts you need to know about this exception if you plan on trying to use it to avoid the 10% penalty.

My client died and left her AXA annuity IRA to her 2 stepsons. However, the instructions in Feb, 2011 to...

In a very clean example, may someone who has all of his qualified money in his current employer’s 401(k) plan...

In order to make an IRA contribution, you must be younger than age 70 1/2 for the year and also have wages or compensation from your job. Once you make your IRA contribution, then you have to figure out whether it's tax deductible or not.

My company failed the ADP test for 2012 (again) and HR has sent a notice that a portion of money...

Retirement Plan
Proposals in the
President’s Budget
• 1) Mandatory Auto-
Enrollment IRAs for Certain
Small Businesses
• 2) Mandatory 5-Year Rule for
Non-Spouse Beneficiaries
• 3) Establish a “Cap”
on Retirement Savings
Prohibiting Additional
Contributions
• 4) Create a 28% Maximum
Benefit for Retirement
Account Contributions
• 5) Eliminate RMDs for
Clients with $75,000 or Less
in Retirement Accounts
• 6) Allow Non-spouse
Beneficiaries to Make 60-Day
Rollovers of Inherited Funds
–

$5000 Traditional IRA (all aftertax dollars) $2800 SEP IRA – active sole proprietor (separate from gov’t job) $70,000 Traditional IRA...