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Newsroom View

Ed Slott: Advisors Are Confused About IRAs

Sunday, February 26, 2023

While a recent Investment Company Institute survey indicates that contributions to IRAs are low — likely because IRA rules are “complicated” — advisors are also confused about the rules, according to IRA and tax expert Ed Slott of Ed Slott and Co.

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Roth IRA ‘Five-Year Rule’ Can Trigger an Unexpected Tax Bill: Here’s What You Need to Know

Sunday, February 5, 2023

A $1 contribution today to a new Roth individual retirement account may not sound like much. But that seemingly small sum might save you a bundle in taxes down the road due to an under-the-radar timing requirement.

Your initial Roth IRA contribution starts the clock on something called the “five-year rule,″ said Ed Slott, a certified public accountant and IRA expert based in Rockville Centre, New York. In basic terms, that rule requires Roth IRA owners have their account for five or more years to avoid paying income tax on any withdrawn investment earnings.

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SECURE Act 2.0 Is Overhyped, Says Ed Slott

Sunday, January 29, 2023

Policymakers tout recent legislation as offering a leg-up to Americans struggling to save for retirement, but one tax and retirement expert says not to believe the hype.

The SECURE Act 2.0, enacted at the end of last year, will bring about some important changes for retirement planners—but it’s not as impactful as its predecessor, 2019’s the SECURE Act, said Ed Slott, president of Slott & Co.

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