The Securities and Exchange Commission’s Regulation Best Interest requires advisors and broker-dealers to have a process to document their rollover recommendations — something most advisors don’t have, warns IRA and tax specialist Ed Slott.
It sometimes seems like when it comes to college-savings vehicles, 529s are the only game in town.
But investors are doing themselves a disservice if they don’t also look at another savings tool available: Coverdell Education Savings Accounts (ESAs). Like 529s, ESAs are a tax-favored way to save for education expenses.
Tonight, Democratic presidential candidate Joe Biden will take on President Trump in a debate about the economy, coronavirus response, the integrity of the upcoming election and more. But for many, another question is top of mind: what will the results of the 2020 presidential election mean for my taxes?
In this episode, we check in with IRA and tax specialist Ed Slott of Ed Slott & Co., on what the recent debt and deficit numbers reported by the Congressional Budget Office mean for retirement plan participants.
In most years, only a few key dates stand out for income-tax planning, and most of them are familiar to taxpayers. But deadlines and strategies have changed a bit for 2020.
The coronavirus pandemic and economic-shutting efforts to slow the virus altered the norm. The most notable example involved the Internal Revenue Service and various state tax agencies, including the Arizona Department of Revenue, switching the usual April 15 filing deadline for 2019 returns to July 15.
Ryan Ermey: Living in retirement comes with twists and turns, no matter when you retire. But life has been particularly chaotic for retirees of late. Former Kiplinger's editor and current retiree Janet Bodnar joins the show, to tell us how retirees can navigate turbulent times, in our main segment. On today's show, Sandy and I remind you to reverse your required minimum distributions (RMDs) before the imminent deadline.
Our guest on the podcast is retirement and tax expert, Ed Slott. He is president and founder of Ed Slott and Company, which provides retirement and tax planning education to investment advisors and financial institutions. Ed has written several books including the recently published Ed Slott's Retirement Decisions Guide: 2020 Edition and Fund Your Future: A Tax-Smart Savings Plan in Your 20s and 30s.