The Roth IRA and an IRA both offer different tax advantaged ways to save for retirement. If you are serious about your retirement plan take these 5 Easy Steps to Retirement. Roth IRA Investors are allowed to fund…
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The Difference Between a Roth IRA and an IRA
Tagged with: 401 (k) Plan, 401(k) plan employer match, Beneficary, Beneficiary Designation, Cash Reserve Fund, Financial Plan, Income Tax, Income Tax Deduction, Income Tax Penalty, Inherited IRA, Inherited Roth IRA, IRA, IRS, IRS Form 8606, Required Minimum Distribution, Retirement, Retirement Plan, Retirement Planning, RMD, Roth 401(k) plan, Roth Conversion, Roth IRA, Tax-Free, Wealth Transfer
The Difference Between a Roth IRA Contribution and a Roth Conversion
Roth IRA The Roth IRA (“Roth”) is an excellent tool to help provide for retirement funding. Here are 3 Proven Reasons You Need a Roth IRA. The Roth is a younger investor’s best vehicle to use. Unlike the IRA,…
Tagged with: 401 (k) Plan, 401(k) plan employer match, Adjusted Gross Income, AGI, Beneficiary, BMW, Connecticut, Connecticut Residents, Connecticut Taxpayers, CT, Estate Tax, Income Tax, Income Tax Bracket, Income Tax Rates, Income Tax-Free, Internal Revenue Service, IRA, IRS, Life Expectancy, Married Filing Jointly, Required Minimum Distribution, Retirement, RMD, Roth Conversion, Roth IRA, Tax Bracket, Tax Deferred Accounts, Taxable Estate
7 Reasons Why All Investors Over Age 70 1/2 Should Consider a Qualified Charitable Distribution
Our observation is that many people are very generous with the donations they make. It sure helps that there is likely a tax deduction for this, no question. Many people are accustomed to donating cash, writing a check to…
Tagged with: 401(K) Plan, 501(c)(3), Adjusted Gross Income, AGI, Appreciated Property, Charitable Donation, Charity, Connecticut Estate Tax, Connecticut Income Tax, Connecticut Taxpayers, Estate Tax, Estate Tax Exclusion, Estate Tax Portability, Gift Tax, Income Tax, Investors, IRA, IRS, Itemized Deductions, Medical Expenses, Miscellaneous Itemized Deductions, Mortgage Interest, Non-profit Organization, QCD, Qualified Charitable Distribution, Required Minimum Distribution, RMD, Standard Deduction
Lies, Damned Lies, and Statistics
I took a statistics class back in college. Like many of my other subjects I didn’t do that well in it. I did, however, gain a deeper understanding of what average meant and still continue to aspire to get up…
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3 Proven Reasons You Need a Roth IRA
To be eligible for a Roth IRA you need to have earned income from wages or from self-employment. Additionally higher income earners are not eligible. Married couples filing a joint return with a modified adjusted gross income of less than…
Tagged with: 401(K) Plan, Adjusted Gross Income, Beneficiary, CPA, Financial Advisor, Financial Plan, High Income Taxpayers, Income Tax, Income Tax Deduction, Inherited Roth IRA, Investors, IRA, IRS, Life Expectancy, Pension, Pension Plan, Required Minimum Distribution, Retirement, RMD, Roth IRA, Savings, Self-Employment, Social Security, tax-deferred, Tax-Free, Wages
When You Should Take Your Required Minimum Distribution Early
Required Minimum Distribution The Internal Revenue Service (“IRS’) requires taxpayers to begin to take their Required Minimum Distribution (“RMD”) from their IRA’s and 401(k) plans by April 1st following the year they…
