It’s not exactly a fun thing to think about, but death is an absolute inevitability. When that time comes or more aptly, sometime before that time comes, there are a number of planning strategies that you can implement to make sure that you preserve tax benefits and minimize present and future income taxes for your heirs. One such planning opportunity may present itself if you own an investment with a loss as your time nears. The issue and possible planning options are best explained by example, so with that in mind, consider the following case of “Bob and Betty:”
This week's Slott Report Mailbag looks into RMDs, QCDs, and IRA withdrawals prior to turning 70 1/2 years old.
There were few changes to the retirement contribution limits for 2017. IRA and Roth IRA limits remain the same. The maximum an individual with earned income can contribute is $5,500 split any way they want between traditional and Roth IRAs. An individual age 50 or older during the year can contribute an additional $1,000 for a total contribution of $6,500.
A new year brings a fresh start and a chance to do things better. You probably have a few resolutions for 2017. You may be planning to eat healthier, get more exercise, or stick to a budget. As you are making your resolutions for the new year, don’t overlook your IRA. Here are a few suggestions for 2017.
This week's Slott Report Mailbag looks into RMDs, Roth IRAs, and "still working" provisions.
Death is inevitable. It comes for us all at one point or another. Some sooner than later, but none are able to escape its grasp. Whenever that time comes, your “stuff,” including your financial assets, generally live on, and are still essentially yours until they are legally transferred to another person or entity. That transference of assets can occur in any number of ways, but often includes a process known as probate.
This week's Slott Report Mailbag looks international beneficiary IRAs, tax free IRA withdrawals, and inherited IRAs.
Question: When is the last day to make a 2016 Roth IRA conversion? Today's Slott Report goes into popular questions and answers you may have for the end of the calendar year.
As 2016 draws to a close, and we get ready to ring in the new year, it’s a great time to look back. Here is a roundup of six of the big stories in the world of retirement accounts for 2016.
This week's Slott Report Mailbag looks into Inherited IRAs, Defined Contribution Profit Sharing Plans, and Roth 401K rollovers.
