If you’re a small business owner such as a sole proprietor, a partner of a partnership, or an owner of an S corporation, and you don’t have a retirement plan for your business, you should consider establishing a SEP (Simplified Employee Pension) in 2014 (there might still be time) or beyond. Here's why.
Greetings from beautiful Denver Colorado, site of Ed Slott and Company’s Elite IRA Advisor Group Spring Workshop. Yesterday, during one of our breakout sessions, IRA trust expert Shannon Evans, JD, LLM, shared some key planning tips to consider when thinking about naming a trust as an IRA beneficiary. Here are just a few of those tips.
This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, comes to you live from Ed Slott's Elite IRA Advisor Group Workshop in Denver, Colorado. One of our mailbag questions concerns required minimum distributions (RMDs) on an inherited IRA .
With individuals living longer, more and more are considering a Roth conversion after age 70 1/2. Beverly DeVeny takes you through the 4 steps you must follow to properly execute the Roth conversion after the key required minimum distribution age.
If you made a traditional IRA contribution for 2014, you should have reported it to the IRS. But what if you forgot? You should still report to to the IRS. Here's why.
Check, double check, and then, maybe, check again. When you are moving retirement funds, make sure they are going to the right account. We have heard so many horror stories through the years. Here's just a few "do-not-do-this" examples.
Can a non-spouse beneficiary convert an inherited IRA to a Roth IRA? What is the proper designation for an IRA trust beneficiary? These questions and more are answered in this week's Slott Report Mailbag, proudly sponsored by Goldco Precious Metals.
Taking your correct required minimum distribution (RMD) ... it sounds so easy; you just divide the balance of your IRA at the end of last year by your IRS-provided life expectancy factor. What could possibly go wrong? The answer: a lot, an awful lot. Read on for seven RMD mistakes you should avoid at all costs.
When a married couple gets divorced, IRAs can be divided as a result. So, if you’re in the middle of a divorce, you should know that some or all of your IRA can be awarded to your ex-spouse. The process is similar to how some of your other assets are divvied up, but there are major differences and special rules that apply when you’re dealing with an IRA.
In a way, it is now a new year for IRA contributions. You can no longer make IRA or Roth IRA contributions for 2014 (we warned you about the deadline). Here are 12 things to know about 2015 IRA contributions.
