Posts Tagged ‘Wealth Transfer’


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 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 the surviving spouse.  This allows for the account to grow … Continue reading »


7 Easy Ways to Decrease Your Income Tax and Keep More Money

 1) Maximize Your Contributions to Your 401(k) Plan

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.


4 Reasons to do a Roth Conversion

 

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: