The Backdoor Roth IRA is a valuable retirement savings tool for high-income earners looking to maximize tax-free retirement income. By following the proper steps, avoiding the pro-rata rule, and ...

The government benefits from the taxes that it receives upfront from Roth contributions. If you hit the income limits for opening a Roth, you can contribute to a nondeductible IRA and convert it ...

The IRS views interest on a savings account as earned income, whether it's $1 or $1,000. So, if you received interest on a ...

When my wife pointed out that our combined income would affect our Roth IRA contributions, I realized I needed to learn more ...

By contrast, nonqualified dividends—from REITs and some foreign stocks, for example ... ll also receive a 1099-R if you convert a portion of your traditional IRA to a Roth IRA.

For example ... or traditional IRA, can lower your tax bill up front because you generally fund them with pretax or tax-deductible money. Accounts like a Roth 401(k) or Roth IRA lower your ...

Spring cleaning is therapeutic and stops costly problems from building up around the home. Why not tackle the dusty corners ...

These 10 taxable items can impact your finances by lifting your tax bill. They include investments, Social Security benefits, and retirement plan distributions.