IRAs, or Individual Retirement Accounts are a great way for Americans to save for their retirement, with several different retirement accounts being available. Roth IRAs, for example, are great for high-income professions such as doctors and physicians who anticipate retiring in a high tax-bracket, due to tax free withdrawals. The Internal Revenue Service (IRS) allows …
Before 2010, most people could not afford to convert an IRA into a Roth IRA. After 2010, the income restrictions that stopped them from doing so were scrapped. But one thing that hasn’t changed is that Roth IRA contributions typically trigger a taxable event. There are few ways of getting around this taxable event: IRA …
Want A Tax-Free Roth Conversion While Donating To Charity? Here’s How! Read More »
Roth IRAs tend to get a lot of hype, and for good reason: because you pay the taxes up front, your eventual withdrawals (assuming you meet the age and holding-period requirements—more on these below) are completely tax-free. While we like “tax-free” as much as the next person, there are times when a traditional IRA will …
Roth IRA versus Traditional IRA: Which Is Better for You? Read More »
