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The Slott Report

Make the Most of the New Tax Law by Planning Now

An early start on tax planning is always good, but this year it is essential. The Tax Cuts and Jobs Act fully rewrites the tax code effective January 1, 2018. To get the most benefit from the changes, while avoiding mistakes under them, update your tax and financial strategies right away.

QCDs and RMDs: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about qualified charitable distributions and required minimum distributions.

Are You and Your Retirement Plan Ready for the New Year?

2018 is right around the corner. We will be dealing with massive changes to the tax code due to the enactment into law of the Tax Cuts and Jobs Act. Some of those changes are going to apply to you and some of those changes will affect your retirement and assets that you hope will go to your heirs. Are you ready?

Happy Holidays

We at the Slott Report would like to wish all our readers and their families a very happy holiday season! We thank all of you for taking your valuable time to read the Slott Report over the past year. We have heard from many of you and welcome your comments and feedback. Keep it coming!

The Tax Cuts and Jobs Act: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about changes in QCDs, Roth Recharacterization, Roth conversions, and NUA stemming from the Tax Cuts and Jobs Act.

What is a Nonqualified Deferred Compensation Plan?

Now that it looks like they’ve been spared from elimination in the most recent version of tax reform, it’s worth taking a look at nonqualified deferred compensation plans (“NQDC plans”). NQDC plans take different forms, including salary reduction arrangements, bonus deferral plans, excess benefit plans, and supplemental executive retirement plans. For some clients, this may be a way to defer a greater percentage of income than under traditional qualified plans. It is also a way to attract and retain key employees. These types of plans will be paired with traditional qualified plans to maximize tax savings.

Make Charitable Gifts by Year End to Lock In Deductions Now

This is the season for charitable giving. And this year, it is especially so for those who want to get the most tax benefit from charity deductions before new Tax Cuts and Jobs Act becomes law. The Act effectively reduces the tax-saving value of the charitable contribution deduction for many.

QCDs and Roth Conversions: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about QCDs and basis from a Roth conversion.

Tax Reform Targets Your Ability to Undo Your Roth IRA Conversion

Recharacterization is currently one of the few “do-overs” allowed under the tax code. Its days may now be numbered. The tax reform legislation currently pending in Congress would do away with recharacterization at the end of 2017.

Rollovers, Spouse as the Beneficiary, and Backdoor Roth: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about rollovers, spouse as the beneficiary, and the backdoor Roth.

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