NEW YORK, Feb. 24, 2022 /PRNewswire/ -- "Ed Slott's Retirement Freedom!", a new public television special that educates viewers on key retirement savings strategies to have more, keep more and make their money last, is now airing on public television stations throughout the country. Those who wish to tune in should check their local listings in their area.
Tax time has rolled around again, and tax and IRA specialist Ed Slott of Ed Slott & Co. has plenty of advice for advisors. First and foremost, he told ThinkAdvisor in a recent interview, now’s the time for advisors to “communicate to clients that you add value beyond your core capability” by advising them on tax issues.
Advisors, Slott said, “do a pretty good job on investing and rebalancing and all that stuff, that’s kind of baked into the cake.”
IRA legislation will not happen in 2021, and the IRA parts of the Build Back Better Act (BBB) may not happen in 2022 if the legislation remains stalled in Congress. But other retirement-related bills may have a better chance of becoming law.
So advisors should still share retirement tax planning strategies with clients in 2022, based on the current tax structure and what might be in the works.
As we approach year-end, CPA and IRA expert Ed Slott of Ed Slott & Co. has given ThinkAdvisor the top priorities that advisors should be focusing on right now in helping their clients with last-minute tax and retirement plan priorities.
His must-dos include avoiding the No. 1 mistake that clients make — and that advisors must alert them to.
See the gallery above for Slott’s 10 last-minute tips, in his own words.
Our good friend Ben Franklin said the only things certain in life are death and taxes. Since we are coming up on year-end, we’ll tackle one of those certainties (you’re on your own with the other). To help us, tax expert Ed Slott is back! He’ll help you get your finances in order before year-end to avoid any tax surprises in April. Should you convert your IRA to a Roth? What’s the contribution deadline for retirement accounts? What changes might be coming in future legislation? Ed’s commenting on it all with us today.