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Ed Slott, the Rockville Centre, New York-based CPA, editor of the newsletter Ed Slott’s IRA Advisor, and author of “The New Retirement Savings Time Bomb” (Penguin Books), to be released in March, recently talked to ThinkAdvisor with some advice about how tax law changes. Here are excerpts from our interview:
It’s a common end-of-year refrain: Don’t forget to take your required minimum distribution.
But, just as with everything else in 2020, rules for RMDs, as they are generally known, are different this year. Seniors don’t have to take them.
Ed Slott, Founder of IRAhelp.com, joins The Final Round to discuss how the election could impact your retirement savings.
Estate attorneys, certified public accountants (CPAs) and the very wealthy will likely go to war with the federal government should former Vice President Joe Biden assume the Oval Office. The issue at hand? Biden’s tax reform proposals, including a little-known provision called step-up in basis.
Take these financial steps before New Year’s Day and you can save on taxes, improve your credit, fine-tune your portfolio and boost your retirement savings. Here's where to start.
This fall, older savers who are feeling generous may want to consider using their individual retirement account to help fund their favorite charities.
There’s an incentive for being altruistic: It could help retirees manage their Medicare premiums in 2022.
It’s now easier for older savers to continue socking money away for retirement.
Just be aware that unintended consequences may follow — and they could cost you.
That’s due to the Secure Act, legislation that was signed into law late last year and took effect in 2020.
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.
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.
