income tax

I am confused about the 5 year rule for Roth conversions. Does it apply to me?

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I am confused about the 5 year rule for Roth conversions. Does it apply to me?

According to one article by Brandon Renfro, there are three 5-year rules for Roth IRAs, but he talks about the first two as they apply to the reader’s question. He explains the 5-year rule for Roth contributions and the 5-year rule for Roth conversions. I’m only interested in the second rule because I’m thinking of … Read more

I am 62 years old with $900,000 in a 401(k). Should I convert $90,000 per year to reduce taxes and RMDs?

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I am 62 years old with 0,000 in a 401(k). Should I convert ,000 per year to reduce taxes and RMDs?

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Roth conversions at the end of life can require some tricky math. As you approach retirement, one of the most important questions will be how to handle taxes on your retirement income. For households that rely on pre-tax portfolios … Read more

The IRS has released new tax brackets for 2026. Some Americans will save thousands, while others won’t be so lucky

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The IRS has released new tax brackets for 2026. Some Americans will save thousands, while others won’t be so lucky

Justin Sullivan/Getty Images Moneywise and Yahoo Finance LLC may earn commission or revenue by linking to the content below. Amid October’s government shutdown headlines, the IRS made a significant announcement without much fanfare: new tax brackets that will affect every taxpayer in the country (1). The changes to brackets are not new. These are adjusted … Read more