A Roth IRA is a unique retirement savings vehicle that allows eligible individuals to set aside money today for a potentially tax-free income stream in the future. Like a traditional IRA, a Roth arrangement allows individuals to make annual contributions…
Like many estate-planning decisions, whether it is best to invest in a traditional 401(k) retirement savings plan or a Roth 401(k) comes down to taxes. More specifically, does it make more sense for you to pay taxes on your withdrawals…
Engaging in estate and financial planning without paying attention to taxes can be a fool’s errand. Tax awareness can be tantamount to all aspects of saving, investing and spending. Failure to consider the tax implications of any estate or financial…
Generous grandparents have even more reasons to establish 529 educational savings plans for their grandchildren in 2024 when new Roth IRA rollover provisions are in effect. Generally, contributions to 529 plans grow tax-deferred and can be withdrawn by beneficiaries tax-free…
With the end of the year around the corner, you have a limited amount of time to maximize your retirement savings opportunities in the most tax-efficient manner. Following are some steps to consider taking before December 31. Max out your…
Your income-tax liabilities for a particular year generally are set by the time the clock strikes midnight on December 31. However, there are some last-minute moves you can make in the New Year to reduce your tax bill before the…
