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A client held real estate in a traditional IRA that was sold. Legal fees incurred in connection with the sale...

Get ready! Several new 401(k) provisions from the SECURE 2.0 Act kick in on January 1, 2025. One that we’ve already written about is the ability of employees to make extra catch-up contributions in a year they turn age 60, 61, 62 or 63 by the end of the year. (This “super catch-up” also applies to SIMPLE IRA participants.) Here are two others:

I wanted you to revisit this topic. I am supposed to have a meeting with my father’s estate lawyer later...

If this questions is inappropriate for this forum, I understand.  I didn’t know where else to post it. My mother...

Each year it is a Thanksgiving tradition here at the Slott Report to take a moment to give thanks for the rules that are helpful to retirement savers. There are many times when rules governing retirement accounts can seem illogical, confusing, and maybe even unfair. However, there are other rules that work well and give us the tools necessary to not only save for a secure retirement but maybe even get a few tax breaks along the way.

In 2007 an original  IRA owner passes away after his RBD.  He was properly taking his RMDs at the time...

Hello, A client initiated a direct rollover from their 401k to an IRA on December 14th 2023, but that check...

When an IRA owner dies, what is the payout schedule for the beneficiary? The key to distinguishing the correct program (i.e., 10-year rule, stretch RMDs, 5-year rule, etc.) is to identify all the important variables. But there are so many! Nevertheless, each detail must be considered. Every scenario requires that we navigate through a mental flow chart. The correct answer lies at the end of every beneficiary maze.

Hello, Most knowledgeable lawyers say that if a 401 K has a designated beneficiary, then it is not included in...

I’m helping a friend restructure her $500K rollover IRA at Schwab. For a while, it was being managed by a...