SmartAsset on MSN2d
With $400k in Income, Can We Use a Backdoor Roth to Cut Down on Lifetime Taxes?
A backdoor Roth conversion can save you significantly in future taxes, but at the cost of paying those taxes now. This isn't ...
Should Your Kids Have A Roth IRA?
If your child has earned income, they can contribute to a Roth IRA. Opening a Roth IRA for kids can significantly change ...
SmartAsset on MSN1d
We're 62 With $950k in IRAs. Is It Too Late for a Roth Conversion?
Fortunately, there’s no age restriction on converting a pre-tax retirement account to a Roth IRA. You can roll funds from a ...
6 Questions to Ask Yourself Before Deciding Between a Roth vs. Traditional IRA
You can cut through the confusion of whether a Roth IRA or Traditional IRA will be your best bet by asking yourself six ...
I Absolutely Prefer a Roth IRA to a 401(k) for Retirement Savings. Here's Why.
Most people's default way to save for retirement is a 401 (k) because it's offered through their employer and can be done ...
24/7 Wall St. on MSN5d
I'm making over $250k but taxes are gobbling up my paycheck - what can I do to reduce it?
A software engineer recently posted his income in the Salary Reddit Group. He currently pays more than $75k in taxes each ...
I'm filing jointly for the first time this year, so I asked a CPA what I need to know before filing
When my wife pointed out that our combined income would affect our Roth IRA contributions, I realized I needed to learn more ...
Hoping to bring down tax bill? Even in 2025, you can influence last year’s return
Review and file an amended tax return: If after filing your taxes you discover missed deductions or credits for 2024 or ...
Slash Your Retirement Taxes: The Reverse Mortgage Advantage
Explore the tax benefits of reverse mortgages, including strategies for Roth conversions and delaying Social Security.
What is the difference between a backdoor Roth IRA and a mega backdoor Roth?
A backdoor Roth IRA is fairly straightforward. If you make too much to contribute directly to a Roth IRA, you contribute to a traditional IRA instead and then convert it to a Roth. While you can only ...
Yahoo Finance13d
I Want to Move $720k Into a Roth IRA. Can I Minimize the Tax Hit?
Taxes are a valid concern if you want to roll over $720,000 from your retirement fund into a Roth IRA. While you won’t pay any taxes if the assets you’re rolling over are held in another Roth ...