Roth Conversion

Top Ways to Lower Your Taxes

We’re more than half way through the year! Can you believe it? Tax return season is still a long way off, but families should always have taxes on the mind when making financial decisions.

I’d like to write a short post today reminding readers of some of the most fundamentally simple ways to save on taxes. Most Americans want to pay a bit less and the IRS has several practical ways allowing you to do so. Here are several that can make the biggest impact on your tax bill, and also benefit you and others in the future.

Roth Conversions Are Amazing. Here's How They Work.

Roth IRAs have made a good run in their relatively short 23 year history. I join with millions of Americans in celebrating the fact that there is an instrument like these allowing workers to save and grow their after-tax dollars and never pay taxes on them again. It’s fitting that the creation of the Roth IRA fell under the Tax Relief Act of 1997.

Roth IRAs have many advantages (which I’ll highlight again); but what I’d really like to dive into is something called a Roth Conversion--where you convert traditional IRA funds into Roth IRA funds.