/Tag: Roth IRA

Roth IRAs for kids

By |2017-05-24T13:42:23+00:00July 21st, 2014|Categories: Tax Planning|Tags: , , , , , , , |

If you have a child who works, consider encouraging the child to use some of the earnings for Roth IRA contributions. All that is required to make a Roth IRA contribution is having some earned income for the year. Age is irrelevant. Specifically, for 2014 your child can contribute up to the lesser of: (1) earned [...]

10 Ways to Prepare for Retirement at Any Age

By |2017-05-24T13:42:24+00:00May 21st, 2014|Categories: Articles, Estate & Trusts, Succession Planning, Tax Planning|Tags: , , , , , , , , |

When should you start planning for retirement? Many people start saving in their 20’s but it is never too early or too late to start. Fortunately the tax law provides subsidies to help people save for retirement. Below are 10 ideas for you to consider as you are either starting your journey, towards the end, [...]

Report Your 2010 Roth Conversions on Your 2012 Return

By |2017-05-24T13:42:34+00:00March 13th, 2013|Categories: Articles, Tax Planning|Tags: , , , , , , |

If you converted to a Roth IRA or designated Roth account in 2010 you must report (in most cases) half of the resulting taxable income on your 2012 return. Normally, Roth conversions are taxable in the year the conversion occurs. For example, the taxable amount from a 2012 conversion must be included in full on [...]

Consider Roth IRA Conversion in 2012

By |2017-05-24T13:42:41+00:00October 22nd, 2012|Categories: Estate & Trusts, Tax Planning|Tags: , , , , , |

If you have a traditional IRA, you might benefit from converting all or a portion of it to a Roth IRA. A conversion can allow you to turn tax-deferred future growth into tax-free growth. It also can provide estate planning advantages: Roth IRAs don’t require you to take distributions during your life, so you can [...]

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