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If you are charitably inclined and have an IRA, you might want to consider doing a Qualified Charitable Distribution (QCD) for 2023. The deadline for a 2023 QCD is fast approaching. It is December 31, 2023, but many custodians have even earlier cutoffs. Don’t miss out on this valuable tax break. Here is what you need to know.

How to report an incorrect 1099-R Box 7 Code S, caused by a SIMPLE IRA custodian not accepting proof of...

HELPING AMERICANS KEEP MORE OF THEIR HARD-EARNED MONEY As the nation’s leading source of accurate, timely IRA expertise and analysis,...

BRING INFORMATIVE, ENTERTAINING & ACTIONABLE TAX EDUCATION TO YOUR ADVISORS WHY BOOK ED SLOTT  ATTRACT & TRAIN ADVISORS TO DELIVER...

I have a client who is contributing $20,000 in elective deferrals to his 401(k). He is planning to contribute approximately...

Hello – I’m sure this question has been asked, so I apologize but there is not an easy way to...

The investment advisory firm of Bad Santa & the Grinch continues to disseminate misinformation and lousy, no good, rotten-to-the-core IRA advice. As we saw in “Bad Santa & The Grinch Offer Horrible IRA Advice – Part 1” (Slott Report, November 29), these two unsavory characters take great joy in fouling up not only your holiday, but also the qualified status of IRAs. Here are more fish bones, brown banana peels, coffee grinds and raccoon meals from their dented trash can of “IRA assistance.”

A person has 401k and is over 65. The 401k has a mix of pre-tax and after tax money in...

If a person is 73 years and will open a single person LLC (he has never been part of any...

I submitted an inquiry in August of 2022 asking about a situation where my client’s mother passed away, and then...