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IRA Blog

How Having Multiple IRAs Can Help Bequest Planning

Having just one IRA instead of several may simplify paperwork and minimize fees. But when you begin to think about leaving IRA funds to heirs, consider using more than one IRA to do so. Here are reasons why:   Preserve Funds for Bequests in a Roth IRA Statistics show...

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Commingling Inherited Assets and QCDs: Today’s Q&A Mailbag

Question: Dear Mr. Slott, In 2013, my husband was offered a buyout from his employer, Ford Motor Co.  He had been retired since 1999 and so was already receiving a monthly pension check. (My husband had been diagnosed with Alzheimer's Disease in 2011 and then passed...

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The Death of the DOL Fiduciary Rule?

It now appears that the new fiduciary rules proposed by the Department of Labor (DOL) back in June of 2016 are all but dead. Late last week, the Fifth Circuit Court of Appeals rejected a last-minute appeal of its March 15th decision to toss the DOL rules. The appeal...

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Meet the New HSA Limit, Same as the Old HSA Limit

If you have a Health Savings Account (HSA) with family coverage, determining your 2018 contribution limit has been an adventure. This in one of the many unintended consequences of the Tax Cuts and Jobs Act (TCJA). Many of the HSA limits are indexed annually for...

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QCDs and RMDs: Today’s Q&A Mailbag

Question: Can you please advise regarding the following: I’m 63 years old and am required to take a yearly RMD [required minimum distribution] from my deceased Mom’s IRA (BDA).  In order to save on taxes, am I allowed to have my financial institution send the RMD...

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3 Investing Mistakes to Avoid with Your IRA

Beware of making these 3 mistakes with your IRA... 1. Late Investments  If, like so many people, you made your IRA contribution for 2017 only recently in 2018, just before the 2017 tax return filing deadline, you missed earning up to 15 months of pre-tax investment...

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