Ed Slott’s IRA Corner2021-08-02T01:03:47+00:00

ED SLOTT’S IRA CORNER

Here at Ethos Capital Advisors, we want to help you understand your needs and current financial goals, so we post a weekly blog. We hope you find Ed Slott’s IRA Corner helpful in your retirement journey, and if you would like to learn more you can click below to begin.

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REAL ESTATE IN AN IRA – AVOIDING A “NUISANCE PROPERTY”

By Andy Ives, CFP®, AIF®
IRA Analyst


Yes, you are allowed to own real estate in an IRA. Of course, not every IRA custodian will accommodate such an investment, but that doesn’t mean it is forbidden. If you want to own a beach house in your IRA, or a commercial building, or an apartment complex, you have every right to do so.

September 1st, 2021|

STRATEGIES WHEN YOUR IRA CONTRIBUTION CANNOT BE DEDUCTED

By Sarah Brenner, JD
Director of Retirement Education


The other day an advisor called us with an issue that comes up frequently, especially in these tumultuous times. His client had made an IRA contribution for 2021 and was planning on deducting that contribution. However, his job situation changed, and he became an active participant in a retirement plan at a new job. While the new job and access to a retirement plan were good things, there was an unfortunate consequence.

August 30th, 2021|

THE MEGA BACKDOOR ROTH IRA STRATEGY AND SOLO 401(K) PLANS

By Ian Berger, JD
IRA Analyst


In the August 16, 2021 Slott Report, we showed that someone participating in a 401(k) plan through a “regular” job could also establish a solo 401(k) plan through a side job and potentially contribute up to $58,000 this year in after-tax contributions to the solo plan. However, this only works if the company sponsoring the regular 401(k) plan and the entity sponsoring the solo 401(k) (e.g., a sole proprietor) are considered unrelated under IRS rules.

August 25th, 2021|

AGGREGATING RMDS – WHAT IS (AND WHAT IS NOT) ALLOWED

By Andy Ives, CFP®, AIF®
IRA Analyst


Recently, I had a conversation with an advisor who wanted a second opinion. He disagreed with how a 401(k) custodian was handling his client’s required minimum distribution (RMD). To arm himself with facts, the advisor contacted us so he could push back on that custodian. After listening to the details, the scenario was clear. It brought me no joy to inform the advisor that the custodian was correct - and there was no fix for what the advisor had done.

August 23rd, 2021|
Ed Slott Secure Act Guide

THE SECURE ACT:
Here’s What It Means For You

On December 20, 2019, a $1.4 trillion spending bill was signed into law in order to keep the government running. Tucked away inside this mammoth piece of legislation was the Setting Every Community Up for Retirement Enhancement (SECURE) Act. This law includes significant changes to retirement accounts. How will it affect you and your retirement savings?

LEARN MORE - GET THE GUIDE!

ED SLOTT'S LIBRARY:
... In 5 Easy Steps - Guides

Calculating IRD Deduction

Calculating IRD Deductions...

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Calculating NUA

Calculating NUA (Net Unrealized Appreciation)...

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To Convert or Not To Convert

To Convert or Not To Convert...

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Determining Tax on Roth IRA Distributions

Determining Tax on Roth IRA Distributions...

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Navigating Healthcare Taxes

Navigating Healthcare Taxes...

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Planning For A Disaster

Planning For A
Disaster...

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Recharacterizing A Roth IRA/Roth Contribution

Recharacterizing A Roth IRA/Roth Contribution...

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Using A Tax Refund To Fund An IRA

Using A Tax Refund To Fund An IRA...

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Calculating The Pro-Rata Rule

Calculating The Pro-Rata Rule...

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Calculating Your RMD

Calculating
Your RMD...

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Planning For Health Savings Account Distributions

Planning For Health Savings Account Dist...

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Fixing A Missed RMD

Fixing A
Missed RMD...

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Navigating Qualified Charitable Distributions

Navigating Qualified Charitable Dists...

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Planning For Multiple Beneficiaries

Planning For Multiple Beneficiaries...

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