Roth IRA contributions can be made by scooting a little of your emergency cash reserves into your account. Doing so may add to your Roth IRA retirement savings while the money remains available for emergencies.
If you're getting ready to file your taxes, several payment processors will let you pay with a credit card for a small fee. Even with the added cost, it can be profitable to do so if you use a rewards-earning card.
Tax season is in full swing, and the IRS wants taxpayers to beware of common scams. High the list are telephone and e-mail requests for money, consumers should also be wary of fake tax shelters and anyone asking for sensitive personal information.
A growing number of entrepreneurs are using money from their 401(k), IRA or other retirement savings accounts to finance a new or existing business without paying taxes or penalties. The strategy has several key advantages.
Congressional Democrats are arguing that the approximately 4 million uninsured – who now owe tax penalties – should get a second chance to sign up for Obamacare. For 2014, the fine for remaining uninsured was $95 or 1 percent of household income, due with 2014 returns, but the fine goes up for 2015 and 2016.
The the 401(k) loan is an often-overlooked source of funds for debt consolidation and interest rate reduction. However, to some financial advisors, the 401(k) plan is the third rail of debt management strategies — a source of capital that should never be touched.
Roth IRAs, as well as traditional IRAs, come with complex rules and a lot of opportunities for missteps. Here are three of the most common mistakes people make with a Roth IRA, and how to avoid them.