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Tips for a Successful Tax Season

The IRS says it will start accepting and processing 2017 tax returns on January 29 and expects to issue nine of 10 refunds within 21 days. To get the fastest refund possible, file electronically and request direct deposit of the refund amount. The IRS says it won't...

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Roth IRA Contributions and RMD Rules: Today’s Q&A Mailbag

Question: Single - W-2 worker making $ 500 a week.  Few if any deductions. Contributes to employer 401K 3% of salary for a Traditional IRA. Is it legal to open up a separate Roth account say in Scottrade with $ 5500? Thank you for your help! -Mike Answer: Hi Mike, To...

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SEPP, SPIA, Rollovers, and 72(t): Today’s Q&A Mailbag

Question: Greetings, No one seems to know the answer to this. Figured I would try you. Client has a 600k IRA. Doing a SEPP of 24k/yr. Has to give 400k to her ex-husband from her IRA. How to adjust SEPP? She is 57 and he is 65. Do we pro-rate the SEPP so she takes...

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Creditor Protection for IRAs

One of the greatest benefits offered under ERISA are the anti-alienation provisions, which provide that benefits under a pension plan cannot be assigned or alienated. While there are some statutory exceptions, ERISA essentially prevents retirement assets from being...

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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...

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QCDs and RMDs: Today’s Q&A Mailbag

Question: Hello IRA Expert, I qualify for QCD (Qualified Charitable Distribution) as I am over 72 years old. I had recently read one of your articles on QCD and the 60-day rollover rule. I have automatic withdrawals of my RMD every quarter. The last automatic...

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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...

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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...

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