Thank You, Ed Slott and Financial Advisor Magazine!

We work hard to keep learning about new and breaking tax laws so we can help clients reach their financial goals and maximize their after-tax wealth.

Thank you to America’s IRA Expert Ed Slott, CPA and to Financial Advisor magazine for hosting the incredibly informative June 9 webcast answering advisors’ questions on the 2020 retirement tax rules.

Ed Slott, if you are not familiar with his name, is widely regarded by financial planners as the expert’s expert when it comes to IRAs and retirement taxes. I read his columns religiously to keep up with what’s new and relevant for my clients.

In the webinar, Ed and his associates answered almost every question imaginable on CRDs, RMDs, QCDs, CARES and SECURE Acts (yeah, we like acronyms!). Ed did a quick run through of the 30+ most common areas of confusion regarding the new tax and coronavirus legislation, while his associates typed answers to written questions at lightning speed, filling 14 pages of single-spaced Q&A notes in one just hour!

You’ve probably heard the term about “drinking from a fire hose”? Well, this is what it’s like. There was way too much information to absorb in just one hour, so my homework over the weekend is to reread the 14 pages of Q&A so I can help respond to all the questions that real-life clients need answered. For example, “How can I pay back a Coronavirus-Related Distribution, or CRD?” and “If my wife was furloughed but I wasn’t, can I take money penalty-free out of my retirement account?”

Between the major new legislation contained in the SECURE and CARES Act, the COVID-19 pandemic, and the resulting market turmoil, we are helping our clients navigate some very challenging waters. Making a wrong decision could severely impact their plan. So expert advice, like that we were able to tap into at this webinar, is always welcome and needed. Thank you again Ed Slott and Company, and thank you Financial Advisor magazine, for your support of the financial advisor community!

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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