Whether you’re still in your working years or are collecting Social Security retirement benefits, it’s important to understand how gig economy jobs will affect what you receive from Social Security.
Retirement
CP2000 for a Backdoor Roth Conversion
If you’ve received a CP2000 notice for a backdoor Roth conversion, there’s a good chance you haven’t done anything wrong. The IRS sometimes has trouble tracking these transactions, so you’ll just need to provide an explanation to the IRS to get things sorted out.
What are the Tax Rules and Advantages of a Real Estate IRA?
Whether you’re looking to take advantage of the real estate market, want to diversify your retirement savings, or don’t trust the stock market but want to take advantage of the tax benefits of an IRA, a real estate IRA might be for you. There are several differences in how a real estate IRA and brokerage IRA work, so it’s important to do your homework before diving in. This post explains who investing in real estate in your IRA can benefit you and the rules you need to be aware of to do it right.
Do Returned IRA Contributions Count as an Early Withdrawal?
What happens when your broker reports returned IRA contributions as an early withdrawal? Are you going to take a tax hit? It depends on what happened but probably not.
How to Avoid Capital Gains Tax
When you sell an investment, home, or other property for more than you bought it for, you may have to pay capital gains tax. That’s …
How Do Taxes Work for 401(k) Loans?
When you take a 401(k) loan, you can generally avoid taxes by paying it back on time. If you don’t pay it back, your loan …
IRAs: Traditional, Roth, SEP, and Simple — Everything You Need to Know
IRAs provide many tax advantages to help you save for retirement. Everyone can use traditional or Roth IRAs, and SEP and simple IRAs give even …
Can You Use a Roth IRA as an Emergency Fund?
The problem: You want to start saving for retirement but need to build up an emergency fund. The solution: Use a Roth IRA as an …
Can You Contribute to a Traditional IRA After Filing Your Taxes?
You can still contribute to an IRA even if you have already filed your tax return. You can contribute up until the tax return filing …
Can You Contribute to a Roth IRA After Filing Your Taxes?
You can still contribute to a Roth IRA even if you have already filed your tax return. You can contribute up until the tax return …
