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The Slott Report

15 Things You Need to Know About ESAs

Education is expensive. If you have children and you are concerned about how you will pay the school bills, you know that you cannot afford to overlook any possible option that may help you save. One savings tool that is frequently overlooked is the Education Savings Account (ESA). Here are 15 things you need to know about ESAs.

You Must Play by the Rules with RMDs and QCDs: Q&A Mailbag

This week's Slott Report Mailbag examines Roth IRA transfers, QCDs and RMDs.

Paying for College – Should You Use Your IRA Funds?

It’s back to school time and the costs for college are quickly mounting. Where is the money going to come from? Many times individuals look to their retirement funds to pay higher education expenses. Can this be done and is it a smart move?

Close is Not Enough When It Comes to the 10% Penalty

A well-known quote attributed to baseball great, Frank Robinson, says “Close doesn't count in baseball. Close only counts in horseshoes and hand grenades.” In a recent Tax Court Case, David D. Pritchard et ux. v. Commissioner; T.C. Memo. 2017-136 (July 10, 2017), the Court found the exceptions to the 10% penalty for early distributions from retirement accounts to be more like baseball than horseshoes or hand grenades. Close is not good enough!

Is There a Way Around the 10% Early Distribution Penalty? This Week’s Q&A

This week's Slott Report Mailbag looks into the one-rollover-per-year rule, RMDs and the 10% early distribution penalty.

Say Goodbye to the myRA Account

On July 28, the Treasury Department announced that it was ending the myRA program. The Department issued a very brief statement saying that as part of the Administration’s effort to assess existing programs and promote a more effective government it was determined that this program was not “cost effective” due to its low enrollment.

Back to School? 10 Things You Must Know About Using Your IRA for Educational Expenses

The arrival of fall means that it’s back to school time! This also means it is time for new school supplies and other bigger expenses. Are you thinking about using your IRA to pay that large tuition bill? The rules can be complicated. Here are 10 things you will want to know.

Your NUA and Required Beginning Date Questions Answered: This Week's Q&A

This week's Slott Report Mailbag examines NUA and the required beginning date (RBD) for taking an RMD.

What’s Your IRA Worth?

Many IRA owners invest in assets other than the usual stocks, bonds, cash, and mutual funds. In fact, the tax code allows for IRAs to invest in just about anything out there except for collectibles, life insurance, and S-corporation stock. But when you invest in those “other assets,” what are they really worth?

5 NUA Facts That May Surprise You

You may have heard of the Net Unrealized Appreciation (NUA) tax break. This is a special rule that allows you to qualify for capital gains treatment on distributions of appreciated employer stock from your employer plan. With the market doing well, now may a be a time when this strategy is more appealing than ever. You may understand the basics of how these rules work but here are five facts about NUA that may surprise you.

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