Roth vs. after-tax 401(k) If you decide to rollover your after-tax contributions to a Roth IRA, there is a way around the five-year withdrawal waiting period. While you can’t open a Roth IRA directly if your income is too high – 2024 limits are $161,000 if filing single or $24...
January 24, 2025 Estate Planning What is a Stepped Up Basis? Cost Basis of Inherited Stock and Other Assets A step-up in basis is a tax advantage for individuals who inherit stocks or other assets, like a home. A stepped up basis can apply ...
Roth and traditional IRAs can help your clients maximize their retirement savings. While contribution limits for IRAs are considerably lower than 401(k)s, you can use portfolio modeling to create plans based on each spouse's risk tolerances to illustrate the value of IRAs and the impact of doll...
If you have a Solo 401k, Keogh or SEP and you get a filing extension to October 15, 2025, you can wait until then to put 2024 contributions into those accounts. To start tax-free compounding as quickly as possible, however, don’t dawdle in making contributions. Making a deductible co...
11 Big Tax Mistakes to Avoid 529 Plan Rules and Contribution Limits Just Starting Out? Learn From Our Mistakes Have a money question? Text or call us at 901-730-6373. Or you can email us at podcast@nerdwallet.com. To hear previous episodes, go to the podcast homepage...