The Slott Report | Ed Slott and Company, LLC

The Slott Report

Roth Conversion and IRA Contribution Questions Highlight Mailbag

This week's Slott Report Mailbag includes questions about converting an employer-based 401(k) to a Roth IRA, the use of trusteed IRAs and what to do if you want to make an IRA contribution from money you earned at the end of 2011, but didn't receive until 2012.

5 Things to Accomplish Before April's Tax Deadline

Thanks to April 15th falling on a Sunday and a Washington D.C. holiday (Emancipation Day) on the following day, the April 15th filing deadline is pushed back to April 17, 2012 for 2011 federal income tax returns. Below are five things you should address between now and then.

Leaving Your Current Job? You Have Retirement Plan Options - Part 2

This is the final part of a two-part article examining six options individuals have for their retirement plan benefits when they leave an employer or become their own boss. In the first part, we covered three options (rolling over to a Traditional IRA, taking a lump sum distribution, leaving it in the plan). We finish our guide with the last three options and provide some closing words of wisdom when considering which choice is best for you.

Beneficiary Issues for the Sandwich Generation

The "sandwich" generation is those who are raising their children and also taking care of their parents. They are sandwiched by their care-taking responsibilities. They are likely to have their own 401(k)s or other employer plans and IRAs, and they are likely to be the beneficiaries of their parent’s retirement assets. Again, they are sandwiched – they are owners with beneficiaries and they are also beneficiaries. Here is what these caretakers need to know about both sides of the equation.

Roth IRA 5-Year Rules, Roth 401(k) Transfers Highlight Mailbag

Some of the trickiest IRA situations involving the Roth IRA 5-year rules. We receive questions about them constantly with each situation just a little bit different than the others. In this week's Slott Report Mailbag, we answer questions on the 5-year rules as well as an inquiry about Roth 401(k) transfer provisions.

Do You Have to File a Tax Return?

One of the most common questions asked during tax season is, "Do I have to file a tax return?" The answer, of course, is a bit complicated, but in general, if your income is equal to or greater than the sum of the standard deduction plus your personal exemption, you must file a return. The standard deduction is higher for those 65 or older, so age makes a difference in some cases.

Leaving Your Current Job? You Have Retirement Plan Options

It is time to examine six options individuals have for their retirement plan benefits when they leave an employer. At some point in their lives, most workers will find themselves in this situation and they need to be as adequately informed as possible in order to make the best choices for themselves and their families. Click to read more about these options.

IRA Contribution Questions at Tax Time

IRAs and tax season go hand in hand. Below are a list of the most popular IRA tax-related questions we have been receiving over the last month or so. Make sure you are up to speed on what you can and can't do to get the most out of your tax return, and in turn, your retirement planning.

Roth IRA Conversion Limits, Spousal Inherited IRAs Highlight Mailbag

This week's Slott Report Mailbag includes questions (and our answers) on the Roth IRA conversion limits, Roth recharacterizations and paying tax on a 2010 Roth conversion, and how a spouse should handle an inherited IRA.

Can I Still Recharacterize a 2010 Roth IRA Conversion?

You will receive various questions as the tax deadline draws near, and a popular one involving IRAs goes something like: "Can I still recharacterize my 2010 Roth IRA conversion?" Many people will realize that they must begin to pay taxes on this conversion this year, and some will ask if the conversion can be undone, especially if he or she doesn't have the money to pay the tax. The answer and advice you need to give can be found in the below video from our YouTube page, IRAtv.

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