The trove of IRS records recently uncovered by ProPublica has confirmed what many have always suspected: Billionaires often enjoy a substantially lower tax rate than the average American.They do that by claiming losses and deductions that reduce their taxable income and by holding much of their wealth in investments, which often aren't taxed on an annual basis.The most recent … [Read more...] about NERDWALLET: You too can reap the tax advantages of a Roth IRA | Business
Roth IRA
NERDWALLET: You too can reap the tax advantages of a Roth IRA | Business
The trove of IRS records recently uncovered by ProPublica has confirmed what many have always suspected: Billionaires often enjoy a substantially lower tax rate than the average American.They do that by claiming losses and deductions that reduce their taxable income and by holding much of their wealth in investments, which often aren't taxed on an annual basis.The most recent … [Read more...] about NERDWALLET: You too can reap the tax advantages of a Roth IRA | Business
A Little-Known ‘Back Door’ Trick for Boosting Your Roth Contributions
If business titan Peter Thiel’s $5 billion tax-free individual retirement account has you jealous, here’s a way to build a pot of tax-free retirement savings without paying much in taxes: A mega-backdoor Roth conversion. According to investigative news site ProPublica, over the past two decades, Mr. Thiel, a founder of PayPal Holdings , Inc., turned less than $2000 … [Read more...] about A Little-Known ‘Back Door’ Trick for Boosting Your Roth Contributions
Peter Thiel turned his Roth IRA into a pot of gold. You can too, but tread carefully
Peter Thiel transformed a tiny Roth IRA worth approximately $2,000 into a $5 billion tax-free behemoth, according to an article from the investigative news site ProPublica.Guess what? Regular investors can also turbocharge their retirement account and navigate the tricky tax-rule straits, financial advisers say. There are minor not-so-minor obstacles in their way, … [Read more...] about Peter Thiel turned his Roth IRA into a pot of gold. You can too, but tread carefully
How to navigate retirement as a small business owner
"When you are a small business owner, almost every part of your business is intertwined with your personal life. You are your business and your business is you," said David Burton, a tax adviser at Harness Wealth. Having a retirement plan in place and setting aside money early can ensure you have a solid financial cushion for when you make the decision to retire. 1. Assess your … [Read more...] about How to navigate retirement as a small business owner