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News & Press

How to Avoid Taxes on Your CARES Act Retirement Withdrawal

Thursday, April 22, 2021

Congress passed several relief bills to ease the financial burdens on struggling American workers during the pandemic. A provision of The Coronavirus Aid, Relief, and Economic Security Act allowed workers of any age to withdraw up to $100,000 penalty-free from their company-sponsored 401(k) plan or individual retirement account in 2020.

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Tuesday, April 13, 2021

Saving money for retirement can be hard, especially if you are behind or cannot save much. For some people retirement is the last thing on their mind. Just contributing 1% of your salary to retirement savings to start and slowly increasing that contribution can make a big difference over time.

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‘You should always invest in a Roth IRA,’ says accountant: It’s the ‘Holy Grail’ of retirement accounts

Sunday, April 11, 2021

f you’re young and saving for retirement, it’s “not even a question” which type of investment account you should choose, says IRA expert Ed Slott, a certified public accountant and founder of Ed Slott & Company. “You should always invest through a Roth IRA,” he says. “To start building your retirement account from dollar one tax-free is the Holy Grail.”

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Stepped Up Basis Reform: Biden’s Middle-Class Tax Hike?

Tuesday, March 30, 2021

President Joe Biden campaigned on a promise to not raise taxes on middle-class Americans. But a little-known provision in his proposed tax reforms could do just that.

One way the Biden tax plan may try to raise revenue to fund the administration’s $3 trillion infrastructure bill is by changing the way capital gains taxes are administered at death.

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Maximizing Roth Savings Opportunities: Sarah Brenner reviews strategies for advisers to help clients maximize their Roth savings opportunities.

Tuesday, March 30, 2021

Both Roth IRAs and Roth employer plans have been available for many years, and by now most advisers and their clients, are aware of the substantial value of these accounts. Roth accounts can provide years of tax-free earnings and withdrawals.

While retirement savers may be aware of these benefits, many count themselves out too soon by mistakenly believing they are not eligible to contribute.

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LI retirement guru Ed Slott forges media empire

Sunday, March 28, 2021

Ed Slott doesn't look the part of media megastar.

The bespectacled, silver-haired certified public accountant can walk near his office in Rockville Centre or his home in Oceanside unrecognized and unaccosted.

But in the world of retirement advice, the Slott brand is nearly everywhere.

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Charitable Giving Strategies

Thursday, March 25, 2021

Christine Benz: Hi, I'm Christine Benz for Morningstar. With most taxpayers claiming the standard deduction, that means they don't receive credit for charitable giving on their tax returns. Joining me to discuss some charitable giving strategies is Ed Slott. He is a tax and retirement expert, and he is also the author of a new book called "The New Retirement Savings Time Bomb."

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COVID-Related Distributions and Taxes

Tuesday, March 23, 2021

Do you have clients who took coronavirus-related distributions, or CRDs, in 2020? If so, they face an immediate decision about how to include the CRD in taxable income. They also must decide whether to repay the CRD and, if so, the optimal time to make repayment.

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