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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HOW YOU CAN REDUCE YOUR RMD

By Sarah Brenner, JD
Director of Retirement Education


When you contribute to a traditional IRA you make a deal with Uncle Sam. You can get a tax deduction and tax deferral on any earnings in your IRA. However, eventually the government is going to want its share and will require funds to come out of these accounts. That is when you must start required minimum distributions (RMDs). You may not need the money and you may not want the tax hit. Here are some strategies that can help reduce your RMD.

July 7th, 2021|

THE “MEGA QCD” OFFERS A WAY AROUND THE QUALIFIED CHARITABLE DISTRIBUTION RESTRICTIONS FOR 2021

Ian Berger, JD
IRA Analyst

Would you like to make charitable donations from your IRA but aren’t eligible for a qualified charitable distributions(QCD) because you’re under age 70 ½? Are you eligible for QCDs but want to donate more than the $100,000 annual limit? Are you interested in making charitable gifts from your 401(k) or other company savings plan? If you answered “yes” to any of these questions, you should be aware of a tax strategy just for 2021 that we call the “Mega QCD.”

June 30th, 2021|

“NOT MORE THAN 10 YEARS YOUNGER” – THE INTRIGUING EDB CATEGORY

By Andy Ives, CFP®, AIF®
IRA Analyst


By now, we all know the SECURE Act outlined a group of people that are still permitted to stretch inherited IRA payments over their own single life expectancy. This group is called “eligible designated beneficiaries” (EDBs). Yes, anyone who inherited an IRA prior to the SECURE Act is grandfathered and can continue to stretch required minimum distribution (RMD) payments. However, if you inherit IRA assets after the SECURE Act (i.e., if the original IRA owner died in 2020 or later), only EDBs can stretch.

June 28th, 2021|

5 THINGS YOU MUST KNOW ABOUT THE AGE-55 RULE

Sarah Brenner, JD
Director of Retirement Education


The pandemic has upended the workplace and caused many people to rethink their career path. For some older workers this may mean considering early retirement. For those workers, access to retirement savings can be key, and avoiding early distribution penalties is critical. While most distributions taken from a retirement account before age 59 ½ are subject to an early distribution penalty, the tax code carves out an exception for distributions from certain employer plans taken by those who are age 55 or older in the year they separate from employment. Here are 5 things you must know about the age-55 rule.

June 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?

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ED SLOTT'S LIBRARY:
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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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