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The Slott Report

Strategies to Make the Most of Your Retirement Assets

“Confidence comes from being prepared.” —John Wooden. A successful retirement plan does not happen overnight nor can it exist without proper preparation.

7 IRA Questions to Ask Before You File Your Return

1) Did you make a deductible IRA contribution for 2016? If yes, make sure the deduction is reflected on line 32 of your Form 1040.

Mailbag Q&A: Early Distributions, Back-door Roth Conversions and More

This week's Slott Report Mailbag looks into early distributions, back-door Roth conversions, and Roth IRAs.

Things to Tell Your Tax Preparer During Tax Season

Any time you get a 1099-R for a retirement plan transaction, make sure you give it to your tax preparer. The IRS gets copies of your 1099-Rs, so they need to be included on your income tax return. They cannot be ignored, even if they are for a non-taxable transaction. How will your tax preparer know it is a non-taxable transaction? You have to tell him or her.

How Cupid’s Arrow May Save Your Retirement Plan

Over $23 trillion sits in various types of retirement accounts across America, according to the Employee Benefit Research Institute. Even that figure may be low. Since 2011 when that figure was calculated, markets have increased and retirement savers have contributed even more to their plans, adding thousands of dollars to the average person’s retirement plan balance. No doubt, trillions more sit in bank accounts, brokerage accounts, mutual funds and other types of “non-qualified” investment accounts.

6 Tips for Making Your 2016 Roth IRA Contribution

Tax season is well underway. This is the time when you may be considering contributing to a retirement account. You may be interested in the Roth IRA, which offers the promise of tax-free withdrawals in retirement if you follow the rules. If you are deciding whether a 2016 Roth IRA contribution is the right move for you, here are 6 tips to keep in mind.

Can You Really Transfer That Penalty Free? This Week's Q&A

This week's Slott Report Mailbag looks into IRA transfers and international transfers.

Do You Have to File an Amended Return?

If you’re like most people, you’ve probably wondered at some point, “Do I need to file an amended return for that?” It is in that spirit that we offer you seven common errors and whether or not you should file an amended return after you discover them.

QCD – Tell Your CPA About It

Did you or your client do a QCD (Qualified Charitable Distribution) last year? Make sure the tax preparer knows about it.

There’s No Place Like Home: Unlocking the Door to Greater Retirement Income

Running out of money while there is still much life to live is frightening. The specific concern is that retirees might spend down their assets at a faster pace than their investment gains accrue. Financial advisors are commonly tasked with helping clients determine if, and under which circumstances, they will have enough money to retire comfortably. This is crucial work.


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