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IRA BLOG

Ed Slott’s Elite IRA Advisor Group (Ed Slott Group) is a membership organization owned by Ed Slott and Company, LLC. Qualifying criteria for membership includes completing specified educational courses offered by Ed Slott Group. Ed Slott Group membership requirements include the payment of annual dues. Logos and/or trademarks are property of their respective owners and no endorsement of (LOK Financial Group) or (Lorraine Kutcher) is stated or implied. Ed Slott Group and Ed Slott and Company, LLC are not affiliated with LOK Financial Group

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Qualified Charitable DIstributions and Inherited IRAs: TOday’s Slott Report Mailbag

Nov 21, 2024

By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: Hello Ed Slott Team, We have a client with an IRA who wants to do a qualified charitable distribution (QCD) to a charity. The charity also has an account with the same custodian of the IRA and has asked that the...

Nothing SIMPLE About It: 3 Different Catch-Up Limits for 2025

Nov 20, 2024

Ian Berger, JD IRA Analyst Here’s something you can only find in the Internal Revenue Code: Starting in 2025, there will be not one, not two, but three different catch-up limits for older SIMPLE IRA participants. Like IRAs and workplace plans like 401(k)s, SIMPLE IRAs...

Tax-Free HSA Distributions

Nov 18, 2024

By Sarah Brenner, JD Director of Retirement Education Health Savings Accounts (HSAs) continue to become more popular. If you have a qualifying high deductible health plan, you may make deductible contributions to an HSA. Then, you can take tax-free...

Roth IRA Conversion Considerations

Nov 13, 2024

By Andy Ives, CFP®, AIF® IRA Analyst Roth IRA conversions remain as popular as ever. However, based on some recent questions we’ve received, it is apparent that folks don’t fully understand all the nuances of this transaction. Here are some of the basic...

Annual RMDs For Certain Beneficiaries Kick in Soon

Nov 11, 2024

By Ian Berger, JD IRA Analyst The get-out-of-jail card that has allowed many IRA and plan beneficiaries to forego annual required minimum distributions (RMDs) is about to expire. Here’s some background: In its 2022 proposed regulations, the IRS took the...

INHERITED ROTH IRAs AND TRUST BENEFICIARY PAYOUTS: TODAY’S SLOTT REPORT MAILBAG

Nov 7, 2024

By Ian Berger, JD IRA Expert Question: For a non-spousal inherited roth IRA account, there seems to be contradictory advice on different websites about when to take distributions. Some say there are annual required minimum distributions (RMDs) within the 10...

401(k) Contribution Limits Increase for 2025

Nov 6, 2024

By Sarah Brenner, JD Director of Retirement Education There is some good news for retirement savers! The IRS has released the cost-of-living adjustments (COLAs) for retirement accounts for 2025, and many of the dollar limit restrictions on retirement accounts...

New Rule: All IRA RMDs Must Be Satisfied Prior to Doing a Roth Conversion

Nov 4, 2024

By Andy Ives, CFP®, AIF® IRA Analyst Yes, you read that title correctly. This rule was confirmed in the 2024 final SECURE Act regulations, released this past July. If a person has multiple IRAs, even if they are held at different custodians, the total...

Trusts as the Beneficiary and Inherited IRAs: Today’s Slott Report Mailbag

Oct 31, 2024

By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: Hello, I’m working with a retired client who has a sizable IRA. He set up a trust and named it as the beneficiary of the IRA, assuming that the trust would reduce or eliminate the income tax liability. Is this the...