Whoa! Today is April 13th already? That means we are just days away from this year's tax deadline. Where does the time go? Have you filed yet? If not, you better get crackin'! But even if you've filed your 2011 return already, have you thought about any of the other key deadlines you may need to plan for this year? Before you know it, those dates will be here as well.
This week's Slott Report Mailbag includes questions on required minimum distributions (RMDs) (what to take from what accounts) and the ever-popular Roth IRA 5-year rules...seriously, we get several questions on these ordering rules each week. Click to read this week's Q&A with our IRA Technical Consultant.
There are many questions and circumstances to discuss when dealing with minor beneficiaries. This question-and-answer session is aimed to fill in some of the blanks and start a discussion with your financial advisor based on a foundational depth of knowledge.
Financial Services Organization TIAA-CREF recently conducted a survey among Americans to gauge their understanding of IRAs. The less than stellar results are not surprising. We take a look at the survey below.
Here are two questions that come up a lot at tax time: Can I do a conversion now for 2011? and Joe died last year. He had earned income. Can we make a contribution to his IRA or Roth IRA account for last year. Find the answers below.
Tax time is drawing near, and as expected, we had several questions about IRA and Roth IRA contributions in this week's Slott Report Mailbag. We answer those questions as well as a question on converting an IRA to a Roth IRA near retirement.
With less than two weeks to go in tax season, accountants across the country are putting in the long hours and nights that are so often required. With 10, 12, 16+ hours a day the norm, it can be easy to go a little loopy. One way to help keep one’s sanity through the process is to try and inject a little humor now and then. Cue ridiculous tax deductions people try and claim.
This week's Slott Report Mailbag answers questions about reporting qualified charitable distributions on your tax return, rolling after-tax 401(k) contributions to a Roth IRA and taking Roth IRA losses if the investment has lost substantial value.
With Tax Day right around the corner, it is the perfect time to answer the most popular questions involving IRA and Roth IRA contributions. Below are five of the more popular questions.
There is a little known provision in the tax code that can provide a huge income tax advantage in the right circumstances. We explain this provision and how it may affect you below.
