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The Slott Report

The Most Pressing Year-End Retirement Planning Questions

Tick, tock, tick, tock. 2013 is almost here, and we at The Slott Report want to provide a few more important points to remember if you are still sorting through year-end retirement planning. These are the questions I am getting most frequently as we near the end of the year.

Disability Tax Code Benefits For Retirement Accounts

Whether it be from injury, illness or otherwise, being disabled can be physically trying and mentally challenging. It can also be tough on your wallet, as being disabled often carries with it additional medical costs, not to mention a possible loss of earning power. Certainly no one in their right mind would ever choose to be disabled, but if life has dealt you this hand, there are a few benefits available under the tax code to help you make the most of your retirement accounts. Below are three such benefits, discussed in greater detail.

Ed Slott's Year-End Retirement Planning Alerts

Year-end retirement planning is in full swing. We are less than a week away from Christmas and in two short weeks 2013 will be here. Financial advisors and their clients are working hard to develop a proactive plan to guard against rising taxes. Ed Slott has your answers on gifting, RMDs (required minimum distributions) and QCDs (qualified charitable distributions) in three year-end planning videos found below.

Senators Propose Tax Relief for Hurricane Sandy Victims

We have spent a great deal of online real estate on the financial aftermath of Hurricane Sandy and the toll it took and continues to take on disaster relief efforts both structurally at shore points up and down the Jersey coast and into New York and financially on the tens of thousands who saw their homes, vehicles and personal belongings wash away with the "once-in-a-century" storm.

The Fiscal Cliff and IRS: Still No Extenders Bill, Alternative Minimum Tax Patch

Most of the talk of the fiscal cliff focuses on the impending tax increases and budget cuts and the impact that they will have on businesses, governments, and, ultimately, on taxpayers. One of the ways that taxpayers will be affected is caused by the impact of the fiscal cliff on IRS.

Slott Report Mailbag: I Just Inherited an IRA or Roth IRA From My Spouse. What Do I Do Now?

This week's Slott Report Mailbag answers what we call some of the "nuts and bolts" of IRA planning. We received questions on required minimum distributions (RMDs) and inherited IRAs - two of our most popular topics, and also two of the topics where we see the most mistakes and disaster stories. Away we go with another Thursday mailbag!

Is the Way Down Off the "Fiscal Cliff" a Path of Capped Deductions?

Unless you've been locked in the cellar of a medieval castle since the November elections, you've likely heard about the fiscal cliff issue – the popular name given to the impending simultaneous tax increases and budget cuts. No doubt this raises concerns about how going over that cliff, if it happens, could affect you.

Fiscal Cliff Week: The Search For Tax Revenue May Affect Donations to Charities

In the current debate over the upcoming fiscal cliff, limiting income tax deductions is being discussed as a way to increase federal tax revenue. Charities could be adversely affected. Click to find out out.

Year-End Roth IRA Rules

A misconception we see frequently is individuals thinking they have until April 15th to do a Roth conversion for the prior year. The Roth conversion rules are not the same as the Roth IRA contribution rules. We explain the difference below.

Slott Report Mailbag: If I Terminate My Employment in January 2013, Can I Contribute to My Roth IRA?

This week's Slott Report Mailbag looks at Roth contributions and the prerequisites necessary to make a contribution. We also answer a question on investing inherited IRA money in an IRA annuity.
 

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