Tag: Taxes
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Taxable Brokerage Accounts for Retirement
There are a lot of retirement options out there, so many that your head probably spins whenever someone talks about 401(k)’s, 403(b)’s, Roth IRAs, or Traditional IRAs… the list goes on. One topic that most people don’t talk about is saving part of your nest egg in a regular taxable brokerage or mutual fund account.…
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10 Rules: Defer Taxes
This final tip in Forbes’ ten rules for building wealth starts dabbling in tax implications and how income and capital gains taxes will affect you investment decisions. The two tips they gives: Be aware of whether your sale will be a short term or long term capital gain. A short term capital gain will be…
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Roth IRA Contribution Limits and Income Phaseout Schedule
The Roth IRA contribution limits are: Year 49 And Under 50 And Over 2005 $4,000 $4,500 2006-7 $4,000 $5,000 2008 $5,000 $6,000 As you can see, if you’re over 50 then you’re given a “catch-up” contribution. The income phaseout schedule is based on your modified adjusted gross income, which is your income minus some deductions.…