7 IRA Questions to Ask Before You File Your Return
1) Did you make a deductible IRA contribution for 2016? If yes, make sure the deduction is reflected on line 32 of your Form 1040.
Roth IRA
Mailbag Q&A: Early Distributions, Back-door Roth Conversions and More
This week's Slott Report Mailbag looks into early distributions, back-door Roth conversions, and Roth IRAs.
6 Tips for Making Your 2016 Roth IRA Contribution
Tax season is well underway. This is the time when you may be considering contributing to a retirement account. You may be interested in the Roth IRA, which offers the promise of tax-free withdrawals in retirement if you follow the rules. If you are deciding whether a 2016 Roth IRA contribution is the right move for you, here are 6 tips to keep in mind.
Did you Inherit an IRA? Don’t Inherit a Mess. This weeks Q&A Mailbag.
This week's Slott Report Mailbag looks into inherited IRAs, beneficiaries, and backdoor Roth IRA strategies.
What’s New and How Does it Impact You? Retirement Plan Contribution Limits for 2017.
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.
When You’re 70 1/2 Avoid These Disastrous Mistakes
This week's Slott Report Mailbag looks into RMDs, Roth IRAs, and "still working" provisions.
What If You Were Told You Are Not Part of An Employer Retirement Plan But You Really Were?
I like to ask clients “If what you thought to be true turned out not to be true, when would you want to know? Since the beginning of mankind, people have been told things that turned out not to be true. The World is Flat. Radio has no future (Lord Kelvin 1897). The horse is here to stay, but the automobile is only a novelty – a fad. (Advice from a president of Michigan Savings bank to Henry Ford’s lawyer. Horace Rackham). What if you were told you are not part of an employer retirement plan but you really were? What could be the implications?
What is a Retirement Plan Rollover?
The word “rollover” is used frequently in writing and talking about distributions from retirement plans. Many times it is used incorrectly. It is crucial that retirement account owners and their advisors know the meaning of the word rollover to safegaurd their savings.
Too Many Roth IRAs? It’s Time to Consolidate
A common strategy is to go through with smaller Roth IRA conversions or to convert different assets to different Roth IRAs. If you have done this over a number of years, you probably have more Roth IRAs than you know what to do with. Maybe it is time to consolidate. Here's why.
Can I “Superfund” a 529 College Plan For My Grandchild?
This week's Slott Report Mailbag looks "superfunding" a 529 college plan and goes a step further on a question answered in last week's mailbag on IRA annuities.
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