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InvestmentNews5 costly inherited IRA mistakesInvestmentNewsInherited individual retirement account mistakes are expensive and often fatal, meaning they cannot be fixed like some other IRA mistakes can. Advisers should have their antennas up when an IRA owner dies and leaves the IRA to a non-spouse beneficiary, ...
ForbesUnder 60? Here's Why You Need An Online Social Security AccountForbes“It really is amazing to see your entire life's earnings on one-half of a page,” says Ed Slott, a CPA and retirement expert in Rockville Centre, N.Y. In his case, that spanned from a $254 entry posted in 1970 to last year's income already picked up by ...and more »
Wall Street Journal (subscription)What to Consider Before Retiring in a College TownWall Street Journal (subscription)At that point, the original IRA is considered to be your mother's IRA, as if she contributed all the funds, says Ed Slott, an IRA expert in Rockville Centre, N.Y. So, technically—even though your mother inherited the account—she isn't considered a ...
CNBCWho are these people who contribute to their IRAs?CNBC"The lower participation in IRAs is a matter of behavioral finance, " said Jeffrey Levine, chief retirement strategist at Ed Slott and Co. in Rockville Centre, New York. Unlike with workplace retirement plans, people have to find an IRA provider, have ...and more »
So You Think You Need to Name a Trust as the Beneficiary of Your ...Yahoo FinanceIn two weeks I had three trusts come across my desk that were named as the beneficiary of the account owner's IRA. The first trust was a Colorado trust.and more »
InvestmentNewsHelp clients use qualified charitable distributions to save on taxesInvestmentNewsCharitable IRA rollovers, technically known as qualified charitable distributions, save taxes. So why aren't clients taking advantage of them? We're not seeing many people using them, when most clients who qualify should be. This tax benefit has been ...
Donald Trump vs. Bill Clinton: Same age, but different IRA rulesYahoo FinanceTraditional IRA contributions can no longer be made for the year a person turns age 70 ½ or older. Ed Slott, a certified public accountant, created the IRA Leadership Program and Ed Slott's Elite IRA Advisor Group. He can be reached at irahelp.com.
ForbesFinancial Spring Cleaning: Which Documents To Save And Which Papers To TossForbesRetirement - The most important paperwork item is the beneficiary form, says CPA Ed Slott, of N.Y. The beneficiary form you fill out when you open a retirement account—not your will/living trust— says who gets your account after your death. Make sure ...and more »
Yahoo FinanceRetirement mistakes to avoid in your 20s and 30sYahoo FinanceThe last thing millennials may be thinking about is retirement, but according to CPA and retirement expert Ed Slott, that should be the first thing on their minds. People in their 20s and 30s “go through more life transitions than at any other age ...and more »
CNBCTax dodgers: Excuses and dubious strategies won't save you on taxesCNBCThis is predicated on the idea that if business profits are funneled through the Roth, they will be tax free, said CPA Ed Slott, founder of Ed Slott and Company in Rockville Centre, New York. Under normal circumstances, withdrawals from a Roth IRA are ...and more »
Investor's Business DailyYou'll Want To Hear This Top Pro's Tips On How To Pick An AdvisorInvestor's Business DailyA certified public accountant, Ed Slott oversees a business that centers on retirement planning and education. His firm, Ed Slott & Co., trains advisors on IRAs and other tax-deferred savings vehicles. The author of many books including "Ed Slott's ...The April 1 Tax Deadline Hitting Oldest Baby Boomers - ForbesForbesall 23 news articles »
4 basic money principles Iwish I knew after graduationThe Manila TimesAccording to financial author Ed Slott, “Time is the greatest money-making asset an individual can possess.” When your folks say time is money, they are correct! Do not wait until you are in your 30s, 40s or 50s before you start investing. An advantage ...
ForbesThe April 1 Tax Deadline Hitting Oldest Baby BoomersForbesTax day is Tuesday, April 18 this year—giving procrastinators a little leeway from the traditional April 15 deadline. That's when you file your federal and state income tax returns for the 2016 tax year. But there's another April tax deadline for lots ...and more »
Errors in taking retirement distributions can be costlySalina Journal (subscription)IRS regulations are precise regarding IRAs and RMDs. Penalties are expensive. Make sure you and your beneficiaries are well-informed. Ed Slott's books will be helpful. A good one is “The Retirement Savings Time Bomb … and How to Defuse It” (Penguin ...
InvestopediaThe Roth Mistake You Need to Undo before April 18InvestopediaForm 5329 is regarded as its own tax return, so if you don't file, the IRS can levy “a failure to file penalty, plus accuracy-related penalties,” according to Jeffrey Levine, chief retirement strategist at Ed Slott & Co. in Rockville Centre, New York ...
CNBCHere's why that big tax refund isn't great news for you - CNBC.comCNBCEveryone loves getting something back from Uncle Sam this time of year. Think twice before you celebrate that small windfall.and more »
MarketWatchShould the US raise the age for required IRA distributions?MarketWatchEd Slott, an IRA specialist and certified public accountant, argues that the government should raise the age for mandatory withdrawals from retirement accounts. Robert L. Meyer, CEO and chief investment officer of Ibis Capital, makes the case for ...and more »
Financial Planning$7000 in Roth IRA contributions that became $6 million in tax-free gainsFinancial PlanningHow can $7,000 in Roth IRA contributions turn into a $6 million tax-free gain? And can you help your clients take advantage of the strategy that allows this to happen? Before you jump in, however, there's another question: Should you help your clients ...and more »
Self-Directed IRA CEO Lists Three Investment Books That Investors ?Must ReadIT Business NetEd Slott's Retirement Decisions Guide," is specifically geared toward people who have to navigate retirement investing and make life-changing decisions at what feels like every turn. This means the list goes beyond basic investing knowledge and ...and more »
BloombergPlanning for a Low-Tax, High-Deficit WorldBloombergBut when it comes to converting your tax-deferred IRA to a tax-free Roth one, Ed Slott thinks now may be the exception. “Tax rates may never get lower in your lifetime than in 2017,” says the accountant and creator of the personal finance website ...and more »