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IRA ARTICLES

BUILDING A SAFETY NET – SMALL BUSINESSES RETIREMENT PLANS

By Andy Ives, CFP®, AIF® IRA Analyst By their nature, small businesses struggle in the shallows. Now they face a tsunami. However, when the shutters are removed and customers return and the employees are back on the payroll, normal day-to-day concerns will be a...

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SPLITTING IRAS AFTER THE SECURE ACT

By Ian Berger, JD IRA Analyst It’s common for IRA owners to leave their assets to multiple beneficiaries – for example, their children. Before the SECURE Act, it usually made sense to split the IRA into separate accounts either before or after death. That’s because...

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INHERITED IRAS AND QCDS: TODAY’S SLOTT REPORT MAILBAG

By Andy Ives, CFP®, AIF® IRA Analyst Question: A daughter who has been diagnosed with rheumatoid arthritis is listed as the beneficiary on her father’s Roth IRA.  Does this disease qualify as a “chronic illness” for purposes of the exception to the 10-year rule? Is...

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SELF-CERTIFICATION FOR MISSED 60-DAY ROLLOVERS

By Andy Ives, CFP®, AIF® IRA Analyst When a person takes a distribution from his IRA or workplace plan, he has 60 days from the day of receipt to redeposit (i.e., roll over) those dollars into another qualified account. This assumes no other disqualifying rollovers...

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APRIL 15 DEADLINE LOOMS TO CORRECT 2019 EXCESS PLAN DEFERRALS

By Ian Berger, JD IRA Analyst The amount of annual elective deferrals you can make to a 401(k) or 403(b) plan is limited by the tax code. If you discover that you’ve over-contributed in 2019, time is of the essence to correct the error. If you don’t act quickly, the...

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QCDS AND THE 10-YEAR RULE: TODAY’S SLOTT REPORT MAILBAG

By Sarah Brenner, JD IRA Analyst Question: My dad was 86 when he died and I inherited half of his IRA, which I elected to stretch.  Am I correct in thinking that since I am not yet 70 ½, I am not allowed to direct qualified charitable distributions (QCDs) from this...

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RMD TRIVIA

By Andy Ives, CFP®, AIF® IRA Analyst True or False?  “It is mathematically impossible for an IRA account owner to have his first required minimum distribution (RMD) be due for the year 2020.” Here’s why this statement is true. First, we are not talking about inherited...

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