Ed Slott, CPA

Ed Slott, CPA, president of Ed Slott and Company, LLC, a financial consulting firm specializing in IRAs and retirement planning, Rockville Centre, New York. He is author of The New Retirement Savings Time Bomb. IRAHelp.com

3 Ways Your IRA Can Get Taxed…Even a Roth!
Retirement Accounts

3 Ways Your IRA Can Get Taxed…Even a Roth!

Ed Slott, CPA | October 21, 2023

The upside of traditional IRAs is that income taxes aren’t due until money is withdrawn…and with Roth IRAs, investment profits…

SECURE Act 2.0 Is Here
Personal Finances

SECURE Act 2.0 Is Here

Ed Slott, CPA | March 9, 2023

Last year’s $1.7 trillion Congressional spending bill included dozens of new provisions that will alter how Americans handle retirement. What…

New Rules Mean Higher Taxes for IRA Trusts
Taxes

New Rules Mean Higher Taxes for IRA Trusts

Ed Slott, CPA | December 21, 2022

If you named a trust as your IRA’s beneficiary, it’s time to revisit—and perhaps revise—that plan. Under the terms of…

Roth IRA vs. Roth 401(k)
Investing

Roth IRA vs. Roth 401(k)

Ed Slott, CPA | November 6, 2022

If you have some money to add to your retirement savings before year-end, throwing it in a Roth IRA if…

IRS Rule Allows Bigger Penalty-Free IRA Withdrawals
Taxes

IRS Rule Allows Bigger Penalty-Free IRA Withdrawals

Ed Slott, CPA | October 8, 2022

An updated IRS ruling now allows IRA owners under age 59½ to dramatically increase the amount of money they can…

RMDs in Today’s Bear Market
Personal Finances

RMDs in Today’s Bear Market

Ed Slott, CPA | August 6, 2022

The bear market is a double dose of bad news for many retirees. Not only has the value of their…

7 Costly IRA Withdrawal Mistakes to Avoid
Personal Finances

7 Costly IRA Withdrawal Mistakes to Avoid

Ed Slott, CPA | November 30, 2021

A single mistake in withdrawing money from an IRA can derail decades of contributions. Here’s how to avoid the traps.

Great Time for a Roth Conversion, But Ask Yourself 3 Questions First
Retirement Planning

Great Time for a Roth Conversion, But Ask Yourself 3 Questions First

Ed Slott, CPA | August 25, 2020

The stock market crash may have put you in position to take advantage of a Roth conversion. Here’s how to know.

How to Protect Inherited Retirement Accounts Under New Federal Law
Retirement Planning

How to Protect Inherited Retirement Accounts Under New Federal Law

Ed Slott, CPA | May 26, 2020

Although the new federal law called the Secure Act provides many advantages for people with retirement accounts

401(k) vs. IRA Early Withdrawal Mistakes
Retirement Planning

401(k) vs. IRA Early Withdrawal Mistakes

Ed Slott, CPA | March 30, 2020

In a financial crunch? Consider an early withdrawal from your retirement account but beware of these mistakes.

Avoid These Costly Mistakes With Required Minimum Distributions (RMDs)
Retirement Planning

Avoid These Costly Mistakes With Required Minimum Distributions (RMDs)

Ed Slott, CPA | November 26, 2018

Mistakes are common on taking required minimum distributions (RMDs) from retirement accounts, and the penalties are steep. Here’s how to avoid them.

A “Trusteed IRA” Can Be Better Than a Trust And Save You Money
Family Finances

A “Trusteed IRA” Can Be Better Than a Trust And Save You Money

Ed Slott, CPA | July 3, 2017

You can prevent your heirs from mismanaging money—and save on fees—with a "trusteed IRA." Like a traditional trust, a trusteed…

Surprising Taxes on IRAs
Tax Planning

Surprising Taxes on IRAs

Ed Slott, CPA | May 8, 2017

One of the most appealing features of a traditional individual retirement account (IRA) is that you don’t pay income tax…

Fund Roth IRAs For Grandkids

Fund Roth IRAs For Grandkids

Ed Slott, CPA | February 10, 2017

You might know that a Roth IRA is a way to grow your nest egg without any future tax payments…

Perfectly Legal Ways to Cut Taxes on Your IRAs
Cutting Taxes

Perfectly Legal Ways to Cut Taxes on Your IRAs

Ed Slott, CPA | July 30, 2012

Thirteen million households are eligible to convert tax-deferred traditional IRA accounts to tax-exempt Roth IRAs in 2010. That includes millions…