The Slott Report | Ed Slott and Company, LLC

The Slott Report

An Open Letter of Retirement Planning Advice to President Obama

Mr. President, As part of the campaign process for your bid to seek a second term in the White House, you recently released a copy of your 2011 tax return. Purely to satisfy my own curiosity, I decided to review the return, as well as the tax return of your challenger, Governor Romney.

Election Week Videos: Taxes on the Rise; Will Government Change Roth IRAs?

The Slott Report's Election Week 2012 coverage is coming to a close, just as a "mega" storm has its eyes set on the Northeast and Election Days is just 11 days away. We hope you refer back to our coverage all week to determine what IRA, tax and retirement planning issues you should read up on before the Election and watch out for no matter who comes out victorious.

What Happened To These Tax Provisions?

The tax code allows a taxpayer to plan his financial affairs so as to pay the least amount of tax that is legally owed. This allows individuals to take advantage of favorable tax provisions. But the lack of bipartisanship engaged in by Congress is making it harder and harder for individual taxpayers to plan effectively. Congress does this by delaying the passage of key tax provisions until the end of the tax year.

Slott Report Mailbag: Can I Use My Roth IRA Contributions To Buy My First Home?

This week's Slott Report Mailbag comes during an important time. The election is less than two weeks away, and we have devoted an entire week to covering the IRA, tax and retirement planning issues you care about. This week's mailbag includes questions on life insurance, using Roth IRA funds for a first-time home purchase and how to take the required minimum distribution (RMD) for a deceased parent in the year of death.

10 Ways You Might Pay More Tax in 2013

The debates are over and we are now less than two weeks from the election! There's a lot riding on this election for both nominees and both parties, but more importantly, for the American public as a whole. While there are numerous issues that will no doubt require the next President's attention, along with that of our lawmakers, few issues are likely to generate more interest from the American people than the subject of taxes.

The Additional 0.9% Medicare Tax: The Tax No One Talks About

Medicare will be a difficult challenge to the winner of this year's Presidential election. The number of Medicare recipients will be increasing as millions of baby boomers retire, and costs have increased as medical care has become much more expensive. Most experts agree that Medicare is unsustainable without raising taxes and/or reducing spending.

Important IRA October 31st Deadline Fast Approaching

An important deadline is fast approaching. This October 31st deadline applies to trusts that are beneficiaries of retirement assets of individuals who died last year. A trust beneficiary cannot use stretch distributions from inherited retirement assets unless the trust meets four qualifications explained below.

IRS Announces 2013 Pension Plan, IRA Limitations

IRS announced 2013 pension plan and IRA contribution limits and other retirement-related items on Thursday. Included in the release below are 2013 retirement plan contribution limits and AGI (adjusted gross income) phase-out ranges for Roth IRA contributions and Traditional IRA deductions. We will dissect these numbers in the weeks to come, but for now, here is the official release in full from IRS.------WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2013. In general, many of the

Slott Report Mailbag: IRA Rollovers and Non-Resident Beneficiaries

This week's Slott Report Mailbag shows that retirement planning involving IRAs can be complicated, and consumers just like you are confused about the rules and concerned they are making fatal, penalty-induced errors.  As always, we stress the importance of working with a competent, educated financial advisor to keep your retirement nest egg safe and secure. Find one in your area at this link.1.Dear Mr. Slott,I am and have been an avid follower of your programs on public television and have purchased your books as well as CD/DVDs. I respect your opinion very much and badly need your help. I have been disabled since 2008 due to an aortic dissection and will be turning 65 in December 2012.

5 IRA Items President Obama and Governor Romney Can Agree On

Did you see that debate last night? No matter what side of the aisle you happen to sit on - or even if you sit in the aisle itself - you have to admit that was a far more spirited and contentious debate than the last one. It seemed like President Obama and Governor Romney argued about everything. Not to mention there were a couple of times that I actually thought they were going to come to fisticuffs. With so much not to agree on, I began to wonder, is there anything they can agree on? So here's my take on 5 IRA items even President Obama and Governor Romney would have to agree on.This article is just a
 

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