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4 Reasons Everyone Should Contribute to a Roth IRA
1) Tax – Free Distributions If the Roth IRA account is open for at least 5 years and the taxpayers is over age 59 1/2, then all of the distributions from the Roth IRA are tax-free. 2) Take Your...
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Fifty Shades of Tax Deductions
No Fifty Shades of Grey here. Here are Fifty Black and White Tax Deductions and Credits. 1) Standard Deduction – Taxpayers can take the higher of the Standard Deduction or their Itemized Deductions....
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4 Reasons All Employers Should Offer a Roth 401(k) Plan
1) The Roth 401(k) Plan Has a Higher Contribution Limit that a Roth IRA Taxpayers can contribute up to $5,000 per year into a Roth IRA. Taxpayers over age 50 can contribute an additional ‘catch-up’...
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How (Almost) Everyone Can Have a Roth IRA
What’s the Benefit of a Roth IRA? The benefit of having a Roth IRA is that if the account is open for at least 5 years and the account owner is at least 59 1/2, then all of the distributions from the...
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How to Explain a Roth IRA to Your 25 Year Old
Roth IRA Eligibility To be eligible for a Roth IRA you need to have earned income. This is typically from wages earned as an employee. Earnings from self-employment also qualify. The annual...
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4 Easy Steps to File Your Income Tax Extension
Your 2012 income tax return is due on April 15, 2013. What if you can’t get it done on time? Here are 4 easy steps to file your income tax extension. 1) Prepare a Tax Projection To file an...
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3 Reasons I Encouraged My Son to Open a Roth IRA
I recently suggested to my son that he open a Roth IRA. Here are the 3 reasons why. 1) He’s Young The Roth IRA offers a huge advantage over a regular IRA. This is particularly so for younger...
View Article3 Easy Steps For Mid-Year Tax Planning
Half the year is in the books. Many people are playing golf, going to the beach or having a barbeque. It is also the time however to have your Mid-Year Tax Planning. Here are 3 Easy Steps to make this...
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3 Proven Reasons Young Investors Should Fund a Roth IRA and Roth 401(k) to Save
Time As the Rolling Stones said, “Time is on my side.” And so it is with younger investors, time is clearly on their side. The benefit to a Roth IRA or Roth 401(k) plan is that if all of the...
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How to Use a Roth IRA to Purchase Your First House
It can be difficult for younger people to save up to purchase their first house. Paying rent, making a car payment and perhaps paying off a student loan can drain your cash flow. While a Roth IRA...
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