Tag: Roth IRA

For 2026, the IRA contribution limit is $7,500 — the first increase from the $7,000 limit that held for 2024 and 2025. Whether you're putting money into a traditional IRA or a Roth IRA, that's your combined ceiling across all IRA accounts. The IRS announced this increase in IR-2025-111, along…

[2013 Update] With a deal to avert the fiscal cliff reached and legislated under the American Taxpayer Relief Act (ATRA) of 2012, a couple of significant employer sponsored retirement plan features have reappeared with some modifications. This includes the Roth 401(k) conversion and Charitable IRA contributions. You can read more…

[Updated with 2013 IRS inflation adjusted tax brackets and fiscal cliff changes] Congress and the Obama administration's fiscal cliff deal (ATRA act) means that 2013 federal tax rates will remain fixed for nearly 99% of the population. Only those earning above $450,000/$400,000 (married/single) AGI will have a higher federal marginal tax rate in…

Two major SECURE 2.0 changes took effect in 2026 that most people haven't fully absorbed yet. If you're between 60 and 63, your 401k catch-up limit jumped to $11,250 — significantly more than the $8,000 available to other workers over 50. And if you earned more than $150,000 last year,…

GOP presidential candidate Mitt Romney and his wife paid a 14% effective income tax rate in 2010 on nearly $22 million of income. Given the marginal federal income tax rate for anyone making over $35,350 (single) or $70,700 (married) is higher than 15%, it is pretty clear that the Romney's…

Boosting retirement savings isn't about finding one clever trick — it's mostly about using the accounts and incentives already available to you more fully than you currently are. Here are ten concrete ways to do that in 2026. 1. Get Your Full Employer Match If your employer offers a 401(k)…

Pull money out of a traditional 401(k) or IRA before you turn 59½, and the IRS adds a 10% penalty on top of whatever income tax you already owe. That's the headline rule everyone knows. What fewer people know is just how many exceptions exist. Some have been on the…

The landscape of retirement planning is constantly evolving, with new legislation and rules changing how we save for our golden years. One of the most significant shifts in recent years has been the increased flexibility in moving funds from traditional pre-tax retirement accounts to Roth accounts. This is a game-changer…

Tax bills go up for a lot of reasons — a raise, a bonus, selling an investment, or just bracket creep as your income grows. Whatever the cause, there are concrete, legal strategies that reduce what you actually owe, separate from whatever political debate is happening in Washington about future…