Moving Your Roth IRA to another Roth IRA
If you have a Roth IRA, you may want to move that money to another Roth IRA elsewhere. There are two ways to move Roth IRA money to another Roth IRA - we detail them below.
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Slott Report Mailbag: When Is a Spouse’s Consent Required for IRA Beneficiary Exclusion?
This week's Slott Report Mailbag answers questions running the gambit of financial planning - from the 403(b) employer plan side to IRA beneficiary rules and the Roth conversion conversation. We also answer a question that is state-specific regarding IRA beneficiary exclusion.
Using a Power of Attorney for an IRA
If you are elderly, or your parents are elderly and you help them with their finances, you should consider getting a Power or Attorney (POA). A POA lets you name or appoint someone to handle important legal and financial issues for you, either now or in the future if you are unable to make decisions for yourself. A POA can also be used to manage or make decisions related to your IRAs.
Slott Report Mailbag: Does the 2013 Tax Law Authorize Rollover of After-Tax 401(k) to a Roth IRA?
This week's Slott Report Mailbag (a special Monday edition) includes questions on the new tax law and two popular topics - required minimum distribution (RMD) rules for a beneficiary and Roth IRA contribution rules.
Special IRA Distribution Tax Break for Miltiary Reservists
Certain retirement plan distributions, known as Qualified Reservist Distributions (QRDs) qualify for special tax breaks. The retirement plan distribution must come from an IRA or from amounts that were contributed as salary deferrals under a 401(k), 403(b) plan or a similar plan.
Slott Report Mailbag: Will Congress Renege on the Roth IRA’s Tax-Free Deal?
We understand the public's apprehension with those in Washington, D.C., and this week we received many questions on recent Congressional action and what may be in store for the future. This week's Slott Report Mailbag examines two issues Congress has not taken a stand on (and in our opinion won't for fear of public outcry and backlash) - the Roth IRA's tax-free distribution power and the Stretch IRA.
Key Retirement Planning Dates During 2012 Tax Season
For all Americans, it’s now 2012 tax season. As we gather our information and records to prepare our federal income taxes for 2012, here are some important dates that affect retirement plans.
IRA Roundtable: Talking New Tax Laws, Tax Time Planning Strategies
Ed Slott and Company is spending two full days talking about the new tax laws, IRAs, retirement distribution planning and more during our 2-Day IRA Workshop starting tomorrow in Orlando. We took some time in the video below to talk about the new tax laws (American Taxpayer Relief Act of 2012) and key planning strategies and dates clients and their tax team should be aware of when filing their 2012 tax returns.
Slott Report Mailbag: Can I Contribute to a Roth IRA?
This week's Slott Report Mailbag includes some of the more popular questions we receive each week. Can I contribute to a Roth IRA? What happens to my deceased parent's required minimum distribution (RMD)? We answer those questions and more in the question-and-answer below.
Slott Report Mailbag: Is a Qualified Disclaimer of an IRA Reported to IRS?
Retirement planning has many nuances, far more than the average investor can adequately negotiate. That is why an educated financial advisor is so important. He or she can help said investor navigate all pitfalls and answer all questions. This week's Slott Report Mailbag looks at some tricky subjects - disclaimers, step transactions, investing options within a Roth. These people didn't have the right answers - but a knowledgeable financial advisor should.
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