Ed Slott
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. Twitter: @theslottreport
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. Twitter: @theslottreport
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.
Chances are, you have clients in financial distress, with a need for ready cash. Just a few years ago, they might have taken out a home equity loan or sold their home.
In a court battle that started in 2001, Kari Kennedy lost a $402,000 inheritance because the beneficiary form didn't name her, even though that is what her father wanted.
No required minimum distributions for 2009
