Conventional wisdom suggests that inheriting a Roth IRA is always better than inheriting a traditional IRA. In the case of the former, the distributions are tax-free and in the case of the latter, distributions are taxed as ordinary income.Read More
It’s not too late to reduce your 2015 tax bill. Retirement savers continue to have a powerful option to decrease the amount they owe in federal income tax, if they are willing to deposit money in an individual retirement account. Depending on your tax rate, a last-minute IRA contribution could save you hundreds or even over $1,000.
There are many ways to make sure that your finances are in good health, as the new year gets underway. One of them—knowing how to spot a scam—is often ignored. The result is that many people are swindled out of their hard-earned savings every year. While 2015 was a year of many familiar scams, 2016 promises new scams as thieves take advantage of election fever, technological trends, and an inadvertent helping hand from the government.