Converting your 401(k) to a Roth portfolio will allow you to entirely avoid RMDs. This is a legitimate form of tax planning. However, often there’s a difference between whether you can do something and whether you should; whether it’s allowed, and whether it’s in your long-term best interest. For example, say that you’re 62 years […]
designer491 / Getty Images/iStockphoto Saving for retirement is important. Depending on how much you earn and what percentage of it you put way, the amount of digits in your IRA or Roth IRA can vary greatly. And every time there’s a concern about tax rates changing, the potential value (or potential loss) from IRA conversions […]
Welcome to The Dirt! I’m real estate reporter Kimberly Miller with the latest developments in the sizzling market. It’s finally come to a head folks. We knew it was going to get messy. Not even a United Nations peacekeeping envoy would want to tackle the griping as a pickleball wave threatens to overwhelm those still clinging to the ancient sport […]
When it comes to skincare, I’m the one my friends call. Whether they’re trying to find a sunscreen that doesn’t leave a white cast or a cleanser that’s hydrating and doesn’t strip every morsel of moisture out of their faces, I’m always one phone call away. Wait — did I say that my female friends […]
Roth IRAs are not subject to rules on required minimum distributions (RMDs), and qualifying withdrawals from Roth accounts in retirement are also free of federal income taxes. You can get those advantages for funds in your traditional IRA by transferring them into a Roth account. You’ll have to pay income taxes now on funds you […]
Jun. 5—ASHTABULA — City Council approved an ordinance that will make Hulbert Avenue a one-way street between West 6th and West 8th streets at a meeting Monday night. The move is expected to create more parking for the new Riverbend Hotel. The Riverbend Hotel, located at 533 Goodwill Drive, will be the first hotel built […]
Converting a large sum like $865,000 to a Roth IRA is a strategic move for long-term tax benefits – including tax-free retirement income and eliminating required minimum distributions (RMDs) – but it often comes with a hefty upfront tax bill. The transition from a traditional IRA or 401(k) to a Roth IRA means paying taxes […]
May 28—LIMA — A busy intersection near the Lima Cenovus Refinery will become a roundabout intersection after qualifying for more than $2.3 million in funding through the Ohio Department of Transportation’s Highway Safety Improvement Program. According to a recent announcement from Ohio Gov. Mike DeWine‘s office, nearly $87 million is set to be invested through […]
It’s a wise move to plan ahead for the taxes you’ll pay on retirement income, including eventual required minimum distributions (RMDs). Instead of waiting until the RMD deadline to start thinking about tax planning, starting the process at age 60 gives you the luxury of time to weigh all of your options and adjust your […]
Converting to a Roth IRA can be tricky business. For the right household, this is an excellent way to save money on retirement taxes. A Roth portfolio generates untaxed income, letting you keep more of your portfolio and Social Security. It also has no required minimum distributions (RMDs), maximizing your financial flexibility. But remember that […]
With retirement planning and taxes, there are often two ways to look at a question: First, can you do something, and then, should you do it? For example, let’s say we have a household planning for retirement. Would it be wise for them to convert their 401(k) into a Roth IRA 20% at a time […]
Malek Hajar, senior project manager at the Vanbarton Group, shows a bathroom inside a model apartment while touring a high rise undergoing conversion from commercial to residential apartments, Tuesday, April 11, 2023, in New York. A growing number of developers are considering converting empty office towers into housing as part of an effort to revive […]