As we all know, there are many tips and tricks to maximizing the tax code in the short-term at tax time and in long-term with your retirement account. However, when a loophole is being used by "too many" and the government is losing out on lost revenue, it has a good chance of being closed. Reporter Liz Weston spoke to Ed Slott about 3 loopholes that are in danger.
This week's Slott Report Mailbag examines Roth IRA contribution eligibility and how to avoid RMDs (required minimum distributions) by rolling a Roth employer plan to a Roth IRA.
This is a frequently asked question, and the answer is very straightforward, but it also starts the Roth conversion conversation no matter your age. Beverly DeVeny provides more technical tidbits you should know about the process.
This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, examines if you have to take RMDs (required minimum distributions) from every account you have and answers if your traditional IRA is tax deductible.
We get many questions from those nearing the RMD (required minimum distribution) age of 70 ½ who are still working. We put together a list of 7 frequently asked questions and our answers on this important IRA planning topic.
Still don’t know what to give the graduate in your life? If they have earned income for the year, give them a gift of a Roth IRA. Here's how to start the process.
This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, looks at lump sum distribution rules for pension plans and the possibility of investing Roth IRA funds in an annuity.
A balance sheet is one of the basic financial statements that can be useful in many situations. Unfortunately, when it comes to retirement accounts, balance sheets can be extremely misleading. How? We explain.
This rumor of Marge and Homer Simpson's divorce made the rounds late last week. It was quickly countered. They are supposedly separating for only one episode. But how would a separation or a divorce affect Homer’s retirement assets?
This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, examines the 72(t) process and answers a question on the IRA distribution rules between the ages of 59 ½ and 70 ½.
