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qualified charitable distribution

QCDs and Roth Conversions: Today's Slott Report Mailbag

Question: Hello, I’ve been a follower of Ed’s expertise for over 10 years. The information has always been helpful and clearly explained. At this time, I’m looking to help a client minimize her taxes. She recently inherited an IRA from her father. She has taken the “Stretch IRA” option and is now receiving her required distributions. Can she utilize a Qualified Charitable Distribution to her church (verified 501c3) to reduce her tax liability and still maintain the stretch IRA? Answer: Yes. Qualified Charitable Distributions (QCDs) are available to beneficiaries.

Can I Convert My 403(b) to a Roth IRA?

This week's Slott Report Mailbag looks at the possibility of converting a 403(b) to a Roth IRA and outlines the qualified charitable distribution (QCD) process and who is eligible to take advantage of it.

Think You Are Debt Free If You Own an IRA, 401(k), or 403(b)? Think Again

While reasonably basic to an IRA specialist, the 9 ideas below are often overlooked by consumers and many financial practitioners alike who do not specialize in IRAs. Used appropriately, they may often help individuals and families preserve their retirement wealth. Perhaps they can help you too. Consider researching in more depth on your own, or perhaps broach any of the topics you feel may apply to you in more detail with your financial consultant(s).

5 Things You Can Do With An IRA That You Can’t With a 401(k)

IRAs and 401(k)s share a lot of similarities. They are both retirement plans. They both can help you lower your tax bill today, provide tax-deferred growth and help provide an income source in retirement. That said, there are also many differences between IRAs and 401(k)s. Some are relatively benign and probably won’t impact you very much, but other differences can make one type of account far superior to the other in your particular situation. With that in mind, today, we explore 5 things you can do with an IRA that you can’t with a 401(k).

Is There an Age Requirement to Go Through with a Qualified Charitable Distribution?

The qualified charitable distribution (QCD) questions keep rolling in - and we aren't surprised. After all, the QCD provision is one of the biggest breaks in the tax code and it's of tremendous value to the charitably inclined. In this week's Slott Report Mailbag, we also walk a reader through the general IRA beneficiary provisions in a community property state.

Does a Qualified Charitable Distribution Count Towards My Yearly RMD?

This week's Slott Report Mailbag examines how to take advantage of net unrealized appreciation (NUA) - one of the BIGGEST breaks in the tax code - along with answers to two questions on qualified charitable distributions (QCDs).

It's Too Late To Use These Two IRA Strategies For 2015

I've received several questions about these two popular planning strategies, and whether it was too late to incorporate them when you sit down with your CPA. The short answer is yes, the ship has sailed. And here's why.

Six 2016 Retirement Account Rule Changes You Need to Know

A new year brings new retirement account rule changes. IRA Analyst Sarah Brenner dissects six retirement account rule changes that you need to know. Everything from qualified chartiable distributions (they are back!) to SIMPLE IRAs and expanded penalty-free distributions for higher education expenses are discussed.

Extenders Bill Poised To Make Big Changes: What You Need to Know

It’s taken almost a full year – literally – but Congress is finally set to pass an appropriations act, which will include the much anticipated extenders bill. However, this isn’t your run-of-the-mill extenders bill. This year’s version of the extenders bill permanently extends several key tax provisions, including the QCD (Qualified Charitable Distribution) provision that allows certain IRA owners to give IRA funds directly to charity without having to include them in income. Stuffed into the bill under a section appropriately titled “Miscellaneous Provisions” are several other changes to the tax law – that have nothing to do with the extenders – but that may impact your planning for one or more reasons. The following is a brief summary of some of the most important provisions in the law.

Are QCDs Available for 2015?

The leaders of Congress promised us that they would deal with the issue of expired tax breaks early in the year so that the American public could proactively go forth with their tax planning based in reality. Well, that didn’t happen. It appears that neither Republicans nor Democrats have the ability to pass timely tax legislation. So, here we are again.

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