#tax-strategy

[ follow ]
#retirement-planning

Jill On Money: Your questions, answered

Investing in municipal bond funds is easier and can benefit high tax bracket investors.
RMDs can be taken in lump sums or monthly, based on personal preferences.
In 2024, you can contribute significantly to various retirement accounts, given your income eligibility.

We're 50 with $1 million in a IRA and want to convert it to a Roth - should we do it now or wait until 65?

Converting IRA funds to a Roth account early can optimize tax benefits and enhance long-term savings.

I'm 38, finally debt-free, and making over $300k - should I start contributing to a Roth 401(k)?

Understanding Roth 401(k) benefits is crucial for strategic retirement planning, especially for high earners like Sarah.

I'm 38, finally debt-free, and making over $300k - should I start contributing to a Roth 401(k)?

Sarah's decision on whether to contribute to a Roth 401(k) hinges on her expectations of future tax rates and retirement income.

Jill On Money: Your questions, answered

Investing in municipal bond funds is easier and can benefit high tax bracket investors.
RMDs can be taken in lump sums or monthly, based on personal preferences.
In 2024, you can contribute significantly to various retirement accounts, given your income eligibility.

We're 50 with $1 million in a IRA and want to convert it to a Roth - should we do it now or wait until 65?

Converting IRA funds to a Roth account early can optimize tax benefits and enhance long-term savings.

I'm 38, finally debt-free, and making over $300k - should I start contributing to a Roth 401(k)?

Understanding Roth 401(k) benefits is crucial for strategic retirement planning, especially for high earners like Sarah.

I'm 38, finally debt-free, and making over $300k - should I start contributing to a Roth 401(k)?

Sarah's decision on whether to contribute to a Roth 401(k) hinges on her expectations of future tax rates and retirement income.
moreretirement-planning

Here's what to know about the standard deduction in taxes

Understanding deductions can save taxpayers significant money.
The standard deduction provides a simpler alternative to itemizing deductions.

How rich Americans use life insurance to save on taxes and protect their kids' inheritance with this neat trick

Life insurance in a trust can protect assets from estate taxes, allowing wealthy individuals to pass on wealth without liquidating estates.
Using an irrevocable life insurance trust (ILIT) can save ultra-rich taxpayers millions in estate taxes.
[ Load more ]