The Slott Report | Ed Slott and Company, LLC

The Slott Report

Conversions, Missed RMDs, Inherited IRAs: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about conversions, missed RMDs, and inherited IRAs.

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How Safe Are Your Tax Secrets?

Tax return information is confidential. As the April 17th tax filing date approaches, pay attention to keeping your tax return information out of the hands of those who could cause you harm.

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Retirement Planning for the Self-Employed – The Solo 401(k)

One of the many issues facing self-employed individuals is how to save for retirement. Of course, one option is to open a traditional or Roth IRA. However, the annual maximum contribution ($5,500 for 2018 if you are under age 50) is low in terms of retirement planning. Therefore, the self-employed often look to adopt employer-sponsored retirement plans. While there are a number of options, the Solo 401(k) is one of the most popular arrangements. Not only does the Solo 401(k) produce higher contribution levels than other arrangements, but employer contributions are tax deductible! Of course, like anything else, there are pros and cons.

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This Week's Q&A Mailbag: 401(k) Contributions and Beneficiary of an IRA

This week's Q&A Mailbag answers reader questions on over contributions to a 401(k) and distributions from an inherited IRA.

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Spousal IRAs: What are They and Who Can Contribute to One?

Spousal IRAs are designed to allow a working spouse to make IRA contributions for a spouse who does not have enough earned income to make their own IRA contributions.

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Are You in the IRA Sweet Spot?

If you have an IRA, you need to know about the “sweet spot.” What is the IRA sweet spot? Well, that is when you are between ages 59½ and 70½.

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This Week's Q&A Mailbag: Excess IRA Contributions and RMDs for Inherited IRAs

This week's Q&A Mailbag answers reader questions on excess IRA contributions and RMDs for inherited IRAs.

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12 Ways the IRS Website Can Help You Reduce Your Taxes and File Your Return

The IRS website provides a host of free resources that can help minimize your tax bill and manage your taxes all year round. Yet, most taxpayers are unaware of them. Here are a dozen of the best.

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Understanding the Pro-Rata Rule

The pro-rata rule is an important, though commonly misunderstood, rule that affects the taxation of IRA money. It only comes into play when your traditional IRA consists of both pre-tax and after-tax monies. These after-tax dollars can come from non-deductible IRA contributions or rollovers of after-tax funds from employer plans. Either way, once those monies are in the account, subsequent distributions or conversions are subject to the pro-rata rule. The pro-rata rule does not apply to Roth IRA assets. Instead, Roth IRA distributions are subject to their own set of ordering rules.

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This Week's Q&A Mailbag: Roth IRA Contributions and Distributions

This week's Q&A Mailbag answers reader questions on Roth IRA contributions and distributions.

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