SIDESTEPPING THE NEW IRS PRIVATE LETTER RULING FEES

By Ian Berger, JD IRA Analyst Like most everything else these days, the price for receiving an IRS private letter ruling (PLR) has recently gone up. A person will request a PLR to receive the IRS’s blessing that a specific tax transaction won’t violate the tax code or...

SELF-DIRECTED IRAS AND THE BACKDOOR ROTH: TODAY’S SLOTT REPORT MAILBAG

By Andy Ives, CFP®, AIF® IRA Analyst Question: Is there a required minimum distribution (RMD) on a self-directed IRA? Answer: A “self-directed IRA” is nothing more than an IRA that invests in unconventional items that not all custodians will handle – like maybe crypto...

CONDUIT IRA – IS IT REALLY NECESSARY?

By Andy Ives, CFP®, AIF® IRA Analyst Conduit IRAs, sometimes called “rollover IRAs,” typically contained only money rolled over from a company plan – and subsequent earnings on those dollars. But a 2001 tax law (Economic Growth and Tax Relief Reconciliation Act...

4 QCD RULES THAT MAY SURPRISE YOU

By Sarah Brenner, JD Director of Retirement Education A Qualified Charitable Distribution (QCD) is a way for you to move funds out of your IRA to a qualifying charity income-tax free. If you are thinking this might be a good strategy for you, here are 4 QCD rules that...

SENATE COMMITTEES TAKE UP RETIREMENT SAVINGS PROPOSALS

By Ian Berger, JD IRA Analyst Proposals to boost IRA and workplace plan savings are advancing, but they are not law yet. Several actions must occur before the proposals become law. On March 29, the House passed the “Securing a Strong Retirement Act of 2022.” Now, two...

INHERITED IRAS AND RMDS: TODAY’S SLOTT REPORT MAILBAG

By Sarah Brenner, JD Director of Retirement Education Question: Dear Sirs: I inherited a regular IRA upon my mother’s death in 2015. I am now 75 years old and have been taking required distributions since then. She was taking distributions herself when she died....