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Income Tax

Most people are familiar with the income tax, but the wealth tax comes with another layer of calculations for the world's wealthiest people.

Employers offer 403(b) and 401(k) plans to help their employees save for retirement, but chances are you won’t have to choose between them. These two tax-advantaged retirement plans are designed for different kinds of companies: 403(b)s are earmarked for non-profit organizations and certain government employers, while 401(k) plans are offered by for-profit companies. What Is […]

A Roth 401(k) is a defined contribution retirement plan funded by after-tax dollars. The Roth 401(k) plan shares many similarities with the Traditional 401(k) plan, although the latter is funded with pre-tax dollars. A Roth 401(k) also shares its after-tax contributions approach with the Roth IRA plan. However, there are important differences you should understand […]

Most of the conversation about saving for college centers around parents or grandparents looking to fund their children or grandchildren’s education. In these instances, using a 529 plan is one of the most popular strategies. But for adults saving to go back for another degree, will the same strategy suffice? How would someone saving for […]

You may already know that contributing to a Roth individual retirement account (IRA) is off-limits for people with high annual incomes. If your earnings put Roth IRA contributions out of reach, a backdoor Roth IRA conversion is a great option that lets you enjoy the tax benefits of a Roth IRA. How Does Backdoor Roth […]

A traditional IRA is a type of individual retirement account that provides your investments with tax-deferred growth. Contributions to a traditional IRA are made pre-tax, and you may be able to deduct some or all of your traditional IRA contributions on your tax return, depending on your income. How Does a Traditional IRA Work? With […]

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A Roth IRA is an individual retirement account that can provide you with tax-free income in retirement. With a Roth IRA, you save after-tax dollars and your money grows tax-free. Roth IRAs provide additional flexibility for withdrawals—once the account has been open for five years, contributions can be withdrawn at any time, for any reason. […]

Individual retirement accounts (IRAs) are a key part of most retirement savings plans. But before you open an account, you need to understand the differences between a Roth IRA and a traditional IRA. Each type of IRA has its own advantages, and saving in one or the other may be a better move at different […]

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TRUMP on his taxes: "They keep talking about $750, which I think is a filing fee. ... Tens of millions of dollars (in income taxes) I prepaid." On his China bank account: "I was a businessman in 2013 and I closed the account in 2015."

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