Taxes

Postponing Taxes on a Roth IRA Conversion

Have you considered converting funds from your Traditional IRA into a Roth IRA? If you’re a regular reader, you’re like aware that the income limits for Roth IRA conversions went away this year. What I haven’t talked about as much are the tax consequences of such conversions.

Tax Deductible Moving Expenses

This is a guest post from Manuel Davis of BackTaxesHelp.com. If you like what you see here, please consider subscribing to their RSS feed.

The first time you move into a new place, the entire process can be exciting and fun. For most people, that novelty wears off after a few more moves, with the entire ordeal becoming something you dread instead of looking forward to it.

Making Work Pay Tax Credit Extension

Help a Reader - Can You Skip Out on Federal Taxes and Donate Income Directly to Charity?

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A look at the possibility of donating funds on a pre-tax basis to charitable organizations.

Social Security Taxes in 2010

As a followup to this morning’s post on the future of Social Security, I wanted to update you guys on the Social Security cap for 2010.
As you may or may not be aware, Social Security taxes are capped such that you only have to pay this tax (denoted FICA-OASDI on your paycheck) on your earned income up to a certain threshold.

The Future of Social Security

Are you worried about Social Security? If so, you’re not alone. According to a recent Gallup poll, 60% of non-retired individuals doubt that Social Security will be able to pay them a benefit when they retire.

Mortgage Loan Refinance Breakeven Points

Sometimes saving money just involves being lucky. I don’t really keep up with mortgage rates anymore, but last week an e-mail subject line just happened to catch my eye that mortgage rates are at “record lows”. I always figured that my 5.125% rate was so low that another refinance or loan modification probably would never be worth it, but it turns out that rates are so low they just might.

Undo a Roth IRA Conversion For Profit – Tips & Tricks

Did you know that if you do a Traditional to Roth IRA conversion, that you can undo it? This “do-over” process is called recharacterization, and can come in very handy if the value of your investments drop significantly after your conversion since you owe income taxes based on the value of the IRA at the time of conversion. With the recent market volatility, this may apply to many investors as it did previously in 2008/2009.

2010 Sales Tax Holidays

Believe it or not, it’s almost time for back-to-school shopping. And you know what that means, right? Time for a sales tax holiday! Unfortunately, some states have dropped their tax-free shopping days due to budgetary problems, but others are still going strong.

Traditional to Roth IRA Conversion at Vanguard

So, you’ve done your research, read the articles, crunched the numbers, and you want to convert your Traditional IRA held at Vanguard into a Roth IRA. But, how do you actually do it at Vanguard.com? There is no explicit “Convert” button or link to run this conversion. After some fumbling around, I managed to figure it out. But why not just share it here in mind-numbing detail and hopefully save folks some time.

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