IRA

Contributing to an IRA When You Are Married Filing Separately

Tuesday, November 12, 2013
If you are married, you can choose between filing your federal income tax return as a joint return or as a separate return. In general, the married-filing separately (MFS) status typically gives you fewer tax benefits than filing jointly. We explain in detail below.
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Ruling to Remember: Waiving the 60-Day Rollover Requirement

Friday, November 08, 2013
In this month's Ruling to Remember, we look at Private Letter Ruling 201339002, wherein a Taxpayer we will call Sue claimed that her old financial institution never adequately explained the 60-day rollover rule, costing her the ability to roll an IRA distribution over to a new IRA at a new financial institution.
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Retirement-Related Tax Breaks for Military Members

Wednesday, November 06, 2013
With Veteran's Day quickly approaching, Ed Slott and Company IRA Technical Consultant Jeffrey Levine detailed 3 retirement-related tax breaks members of the United States armed forces can take advantage of before year-end.
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Revoking Your IRA

Tuesday, November 05, 2013
When you first open an IRA with a financial institution (custodian), you have to sign the custodian's IRA contract. This IRA contract must contain an IRA agreement and an accompanying disclosure statement. Usually both these documents are contained in one IRA contract, with the disclosure statement attached right behind the IRA agreement.
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Buying Life Insurance in Employer Retirement Plans

Tuesday, October 29, 2013
You are allowed to buy life insurance inside your employer retirement plan, such as a 401(k) or profit sharing plan. While many plans don't offer life insurance as an investment, some in fact do. Click to find out more.
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Reminder From IRS: Don’t Forget Your 2010 Roth Conversion!

Friday, March 08, 2013
IRS recently issued a "friendly" reminder to taxpayers who did Roth conversions back in 2010 and took advantage of the two-year deal to split their conversion income equally between 2011 and 2012. IRS wants to be sure that those taxpayers do not "forget" to include the second half of their conversion on their 2012 tax returns.
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The Roth Conversion Decision Just Got Tougher

Friday, January 11, 2013
As much as we like Roth conversions and encourage individuals to convert, we do realize that Roth conversions aren't for everyone. There have always been many factors to consider before doing a conversion. With the passage of the 2012 tax act on January 2, 2013 and with the healthcare surtaxes taking effect in 2013, there are now more factors to consider. We explain these below.
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The Most Pressing Year-End Retirement Planning Questions

Friday, December 21, 2012
Tick, tock, tick, tock. 2013 is almost here, and we at The Slott Report want to provide a few more important points to remember if you are still sorting through year-end retirement planning. These are the questions I am getting most frequently as we near the end of the year.
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