Jul 18, 2020 | Retirement, Roth IRA
Q: A friend of mine says that if you withdraw money from a Roth IRA within five years of putting it in, you’ll pay tax and a penalty. I started my Roth in 2018 when I turned 30 and thought I could get the $11,500 I have put in over the last two years out at any time...
Apr 17, 2020 | IRA, Roth IRA, Self Directed IRA
The financial fallout from the COVID-19 crisis might create a once-in-a-lifetime opportunity to do Roth conversions at an affordable tax cost and gain some insurance against future tax rate increases. In this column, I’ll explain why I say that. But first some...
Jun 7, 2018 | 401k, ROBS Plan, Roth IRA, Taxes
David John Marotta , Contributor With many people living and working longer, there are important tax saving opportunities to contribute, defer, or convert well past age 70 ½. A nice reminder by William H. Byrnes, and Robert Bloink is in their article “The...
May 26, 2018 | IRA, Roth IRA
Clients often consider whether it’s wise to convert their individual retirement accounts to Roth IRAs. There are pros and cons to doing so. But, for some clients, the Tax Cuts and Jobs Act of 2017 may tip the scales in favor of converting substantial amounts now....
Mar 26, 2018 | IRA, Retirement, Roth IRA, VIP Members
Roth IRAs have two big tax advantages The two most-important Roth IRA tax advantages are: Tax-Free withdrawals Unlike traditional IRA withdrawals, qualified Roth IRA withdrawals are federal-income-tax-free and usually state-income-tax-free too. What is a qualified...
Apr 8, 2017 | Retirement, Roth IRA, Self Directed IRA
Ed. Note: This article first appeared in CNBC The April 18 tax-filing deadline is looming, and many corporate executives, attorneys and other professionals earning high salaries are seeking to save more money and cut their taxes. There is a great strategy that they...
