Ed Slott, a certified public accountant, is a financial expert specializing in retirement planning, IRAs and tax issues. He created the IRA Leadership Program and Ed Slott's Elite IRA Advisor Group. X: @theslottreport
Although the Roth conversion isn't for everyone, financial advisers must have the conversion conversation with every client who qualifies.
The revenue-raising provision of the new health care law most likely to affect your clients is a 3.8% levy on investment income.
Unfortunately, many individuals are getting confused.
The beneficiary form is the single most important estate-planning document of individual retirement accounts and Roth IRAs, determining the ultimate value of the accounts, who ends up with the money and for how long.
By now, most financial advisers know that when you have after-tax money in an individual retirement account, you can't just convert those funds and pay no tax on the conversion.
The suspension of 2009 required-minimum distributions from retirement plans and IRAs was enacted as part of the Worker, Retiree and Employer Recovery Act of 2008, which was signed into law Dec. 23.
The latest version of the tax credit for first-time homebuyers has two new features that may make the credit more widely available, which means more clients with Roth conversion income may be affected.
The Internal Revenue Service has closed another loophole in the Tax Code.
Chances are, you have clients in financial distress, with a need for ready cash.
Here are some key individual retirement account items to check on before the end of the year.
When Roth individual retirement accounts were created, it was inevitable that some taxpayers would attempt to exploit their advantageous provisions.
Individual retirement account owners under 59½ who take a distribution from their IRA are subject to a 10% penalty on the taxable amount of the distribution. But there are several exceptions to the penalty.
No required minimum distributions for 2009
