by fwsadmin | Nov 10, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Question: Good morning, I have a client who took out $100K from his SEP IRA and put the funds back in on 8/19/22 — within 60 days from the distribution. The client has...
by fwsadmin | Nov 9, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport As we’ve reported, the IRS recently said it would waive the 50% penalty on RMDs missed in 2021 and 2022 for IRA beneficiaries subject to the 10-year payout rule who inherited in 2020 or 2021. These...
by fwsadmin | Nov 7, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Not every IRA transaction is easily identifiable. Some require a little legwork to reveal or report what occurred. Some transactions are not even labeled on official IRS tax forms and can go...
by fwsadmin | Nov 5, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport When it comes to IRAs and workplace plans, the concept of the “required beginning date” (RBD) is a “really big deal” again. The RBD is the first date you’re required to start required minimum...
by fwsadmin | Nov 4, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport Question: I am 72 and want to start RMDs. I have multiple accounts from teaching jobs that I had many years ago, plus a couple of traditional IRAs and a 401(k) with my current employer. Can I total...
by fwsadmin | Nov 3, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Roth IRAs offer a trade-off where you pay taxes now on your contribution (or conversion) in exchange for tax-free earnings later. Don’t miss out on tax-free Roth IRA...