A recent Pew Charitable Trusts study released in March came to the scary conclusion that roughly one-third of Americans would have trouble coming up with $2,000 in the event of an emergency. Clearly, this is a problem. Try as one might, emergencies are bound to happen from time to time. Some of them may not have an impact on your finances, but many emergencies will. With that in mind, let’s talk for a moment about the ultimate emergency fund, the Roth IRA.
This week's Slott Report Mailbag looks into converting and contributing to different IRAs, 401(k)s, and RMDs.
Here are the 11 things you need to know at tax time.
If you have an HSA, you will want to give some thought to what will happen to this account after your death. The rules are a little tricky and careful planning is important to minimize the tax bite.
This week's Slott Report Mailbag looks into claiming a loss in a traditional IRA, and 403(b) transfers.
Trusteed IRAs have been in the news recently. More and more financial organization are making these products available. Is a trusteed IRA a good strategy for you? Here is what you need to know about this increasingly popular option.
“Confidence comes from being prepared.” —John Wooden. A successful retirement plan does not happen overnight nor can it exist without proper preparation.
1) Did you make a deductible IRA contribution for 2016? If yes, make sure the deduction is reflected on line 32 of your Form 1040.
This week's Slott Report Mailbag looks into early distributions, back-door Roth conversions, and Roth IRAs.
Any time you get a 1099-R for a retirement plan transaction, make sure you give it to your tax preparer. The IRS gets copies of your 1099-Rs, so they need to be included on your income tax return. They cannot be ignored, even if they are for a non-taxable transaction. How will your tax preparer know it is a non-taxable transaction? You have to tell him or her.
