Unlike with traditional IRAs, Roths do not provide tax savings, so anyone converting such funds to a Roth must pay federal income taxes on the amount converted.

Take a tax hit today to avoid one later?

HUNTSVILLE, Ala. (WAFF) - A backdoor Roth conversion is a strategy used by high-income earners to contribute to a Roth IRA, even when their income exceeds the IRS limits for direct Roth contributions.

As we approach 2025, many seniors are considering Roth conversions to optimize their retirement savings. With the introduction of President Trump’s new $6,000 senior deduction, there are opportunities ...

If you are considering doing a Roth conversion, this article is for you. This is the third column in a three-part series. The first one, “10 reasons not to do a Roth conversion,” ran in early June and ...

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If you are considering a year-end Roth individual retirement account conversion, you'll need to plan for an upfront tax bill. Stream NBC 5 for free, 24/7, wherever you are. Still, "it can be hard to ...

Most investors approach Roth conversions with a simple question: Will my future tax bracket be higher than my current one? On paper, that seems like the most important question. A Roth conversion ...

Many financial planners complete Roth individual retirement account conversions around year-end. Roth conversions typically require precise current-year income projections to avoid possible tax ...

Roth conversions are one of the most powerful financial planning tools available. While they’re not right for everyone, for many investors, a Roth conversion can unlock huge tax savings. There are ...