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It is becoming more and more evident that in order to have an adequate income in retirement, at least some of your income is going to have to come from your savings. Don’t overlook the ability to make IRA contributions to supplement other retirement savings you might have. You have until April 17, 2012 to make a contribution for 2011. Below are some frequently asked questions and our answers.

Client has a substantial sum of after tax contributions in his company plan that are clearly deliniated on his year...

This week's Slott Report Mailbag includes your questions (and our answers) on IRA contribution limits, Roth IRA distribution rules and using the pro-rata rule.

ALL: I have the following scenario: client has $500,000 in an IRA. $176,000 of the account value is after tax...

So I’ve just come across a real “stumper” that I was hoping maybe one of the encyclopedia’s on here has...

One of the best ways to legally avoid current income taxes is by contributing to an employer-sponsored retirement plan. While it’s too late to make any contributions to 401(k)s and 403(b)s for last year, you actually have until April 17, 2012 to set up and fund a new IRA or add money to an existing one and have the contribution count for 2011. The last day to contribute for the prior year is generally April 15, but in 2012 the 15th falls on a Sunday and the 16th is Emancipation Day, a holiday in the District of Columbia that affects tax filing deadlines the same way federal holidays do.

self employed husband died during year without completing application to open sep account. I was told that spouse can open...

I have my significant “Roll Over IRA” left to four “primary beneficaries”. Half to my wife(58), 1/6th to each of...

For many who have IRAs, they are looking to use those funds in a down economy. But IRA distributions come with strings attached. There is income tax due on most IRA distributions since IRA funds are generally pre-tax funds.

I am confused about IRS Sec. 1.402(c)-2, Q-7 regarding the “Special rule for annuities” as it pertains to Roth IRAs....