Category Archives: Ed Slott

PENDING RETIREMENT ACCOUNT CHANGES

IRA ADVICE – ED SLOTT – Recently President Obama released his Fiscal Year 2017 Budget – his final budget proposal as President of the United States. Having seen none of his 14 retirement account-related proposals from last year’s budget enacted, … Continue reading

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ONE LAST WORD ON 2015 TAXES

IRA ADVICE – ED SLOTT – It’s taken almost a full year – literally – but Congress has passed (and the President has signed) the PATH Act, which will include the much anticipated extenders bill. However, this isn’t your run-of-the-mill … Continue reading

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IMPACT OF NEW SOCIAL SECURITY RULES ON YOU

IRA ADVICE – ED SLOTT – Retirement planning for millions of Americans has changed dramatically. On November 2, President Obama signed into law the Bipartisan Budget Act of 2015, which had a significant impact on both Medicare Part B participants and … Continue reading

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WHAT YOU NEED TO KNOW ABOUT RECHARACTERIZATION

IRA ADVICE – ED SLOTT – October will be here before you know it. I know this because I have already seen Halloween candy in the grocery store and Sarah’s blog on the recharacterization’s value reminded me. October 15 is … Continue reading

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THE DEFINITIVE GUIDE TO THE “BACK-DOOR ROTH”

IRA ADVICE – ED SLOTT – Chances are that, by now, you’ve heard of a retirement planning strategy known to many as the “Back-Door Roth.” But what is it? Why is it important? What are the potential traps and how … Continue reading

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RETIREMENT PLANNING FOR SMALL BUSINESS OWNERS

IRA ADVICE – ED SLOTT – If you are a baby boomer that runs a small business, you have probably looked at one of the most popular small business retirement plans, the SEP IRA. In contrast to other potential options … Continue reading

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A ROOKIE IRA CONTRIBUTION MISTAKE

IRA ADVICE – ED SLOTT – In a just released private letter ruling (PLR), a taxpayer was given an extension of time to complete a rollover of funds to his IRA. He was given bad advice by his CPA. “Tom” … Continue reading

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10 WAYS YOU MIGHT PAY MORE TAX IN 2013

IRA ADVICE – ED SLOTT-For some time now, we’ve had it pretty good, at least from a tax perspective. That’s all about to change though. There are an abundance of changes to the tax law scheduled to take effect in … Continue reading

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WHAT DOES IRA STAND FOR?

IRA ADVICE – ED SLOTT– If you’re like the majority of people – including financial advisors and accountants – here’s something probably don’t know. IRA does NOT technically stand for individual retirement account. Instead, the IRA stands for Individual Retirement … Continue reading

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INHERITED IRA’S ARE NOT TAX-FREE INHERITANCES

IRA ADVICE – ED SLOTT– In a recent case, a non-spouse beneficiary learned that an inherited IRA is taxable and is not treated as a tax-free “inheritance.” He received a total distribution from his deceased Mom’s IRA and thought that … Continue reading

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