- About Us
- Small Business Taxes
- Tax & Accounting Services
- Contact Us
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 Roth IRA are tax-free. Additionally, unlike IRA’s, Roth IRA’s are not subject to the Required Minimum Distribution Rules (“RMD”) for either the taxpayer or … Continue reading »
Many employers will offer a 401(k) plan. Employees need to take advantage of this plan. This will likely be one of the cornerstones of your retirement plan. If your employer offers a match, you really need to participate in this plan at least to get the match amount.
Half of the year is almost over. Don’t wait until the end of the year to do your planning. It’s time for your Mid-Year Tax Review. 1) Review your withholding. Review your prior year income tax return for the income tax paid. Check your year-to-date paystub to see if your withholding is tracking where it needs to be. If you need to adjust your federal withholding, file … Continue reading »
A Roth Conversion is when funds are taken out of an IRA and converted into a Roth IRA. This conversion results in taxable income. Here are 4 Reasons to do a Roth Conversion:
In 2010, everyone can do a Roth IRA Conversion ("Conversion"). What is a Roth Conversion? It's when you take money out of your IRA, tax it, and convert it into a Roth IRA.