The idea of paying taxes now in exchange for the prospect of lower taxes decades in the future struck me as preposterous.

A Roth IRA is a versatile retirement account that offers unique benefits, especially for those aiming to maximize tax-free ...

Sometimes the IRS lets you fix a mistake without a penalty. Here are some instances, including examples involving IRAs and RMDs.

In 2024, the phase-out range for single filers is between $ ... you could potentially benefit from using a backdoor Roth IRA, where you convert a traditional IRA to a Roth. Or consider qualifying ...

High-income households can use what's called a "backdoor Roth" to utilize a Roth IRA despite the program's standard income ...

Saving for retirement is an integral component of securing long-term financial security. There are many ways to save for ...

Should I Switch to Roth Contributions? Whether to make the move from contributing to a tax-deferred workplace plan or switch ...

A Roth IRA is what’s called a “post-tax” retirement ... This contribution limit begins to shrink and phase out up to the ultimate income caps of $161,000 and $240,000 for single and joint ...

For joint filers, the phase-out applies to incomes between $230,000 to $240,000 ($236,000 to $246,000 for 2025). Exceed those outer limits and you can't fund a Roth IRA at all. Modified adjusted ...

According to the Urban Institute, 30% to 40% of college students take out federal loans to cover their expenses. Bachelor's ...

It doesn't take a high income to land in a high tax bracket. A single adult earning $48,000 finds themselves paying 22% on their top-taxed dollars. Learn More: American Opportunity Tax Credit: What ...