A so-called “Backdoor Roth” is a technique for retirement savers to get the benefits of a Roth IRA even if their income exceeds limits that...
Ed Slott, CPA
Articles by this author
Why You Should Take Your 2025 RMDs Now
Conventional wisdom says seniors should wait until the end of December to take their required minimum distribution (RMD)—that’s the minimum amount that tax law requires most...
Made a Mistake With Your IRA? There’s Still Time to Fix It!
Traditional Individual Retirement Accounts (IRAs) were first introduced in 1974 as simple savings plans for workers who did not have pensions. But over time, they...
Watch Out for These Land Mines
Inheriting an individual retirement account (IRA) from a loved one can be a windfall—but it also can be one of the trickiest assets to deal...
3 Ways Your IRA Can Get Taxed…Even a Roth!
The upside of traditional IRAs is that income taxes aren’t due until money is withdrawn…and with Roth IRAs, investment profits are not taxed at all....
SECURE Act 2.0 Is Here
Last year’s $1.7 trillion Congressional spending bill included dozens of new provisions that will alter how Americans handle retirement. What you may have missed in...
New Rules Mean Higher Taxes for IRA Trusts
If you named a trust as your IRA’s beneficiary, it’s time to revisit—and perhaps revise—that plan. Under the terms of the SECURE Act of 2020...
Roth IRA vs. Roth 401(k)
If you have some money to add to your retirement savings before year-end, throwing it in a Roth IRA if you are eligible to do...
IRS Rule Allows Bigger Penalty-Free IRA Withdrawals
An updated IRS ruling now allows IRA owners under age 59½ to dramatically increase the amount of money they can withdraw from their accounts without...
RMDs in Today’s Bear Market
The bear market is a double dose of bad news for many retirees. Not only has the value of their portfolios plunged, but once they...
