by Kenny | Apr 23, 2018 | IRA BLOG
With the tax deadline having just passed, now is the perfect opportunity to start planning for next year. Last year’s return should be readily available, and you may even have many important items committed to memory. Additionally, four months into the year is the... by Kenny | Apr 19, 2018 | IRA BLOG
Question: I was curious if a Roth conversion of post-tax money from an IRA is subject to the pro rata rules if the IRA owner also owns a SIMPLE IRA? Is the SIMPLE excluded from the calculation? Thanks Joseph Answer: Joseph: The pro-rata rule looks at the balance... by Kenny | Apr 18, 2018 | IRA BLOG
One of the greatest benefits of an IRA is its ability to provide tax-favored wealth for heirs. An IRA left to a beneficiary can be “stretched” to provide pre-tax compound investment returns for the rest of the beneficiary’s life — or even... by Kenny | Apr 12, 2018 | IRA BLOG
Question: Dear Mr. Slott, I am writing because I have what may be an unusual IRA reporting situation and would like advice, or if you will, a judgement as to how I may handle the reporting for 2017. This particular situation is one I have not heard of or seen... by Kenny | Apr 11, 2018 | IRA BLOG
One of the benefits of a Roth IRA is that contributions can always be distributed out of the Roth IRA with no tax, and no early distribution penalty for those that are under age 59½. But, you have to be able to prove to IRS that you are taking a distribution of... by Kenny | Apr 9, 2018 | IRA BLOG
With the 2017 tax filing date quickly approaching, many taxpayers are looking to take advantage of IRA contributions to lower taxable income prior to filing. However, before making that contribution, you want to be sure that you meet all the eligibility rules. The...