Year-end tax planning ideas for individuals

Year-end tax planning ideas for individuals

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lower tax bill

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next.

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Is it a good time for a Roth conversion?

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Roth Conversion

The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline may provide a valuable opportunity: It may allow you to convert your traditional IRA to a Roth IRA at a lower tax cost.

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IRA account value down? It might be a good time for a Roth conversion

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Roth conversion

The coronavirus (COVID-19) pandemic has caused the value of some retirement accounts to decrease because of the stock market downturn. But if you have a traditional IRA, this downturn may provide a valuable opportunity: It may allow you to convert your traditional IRA to a Roth IRA at a lower tax cost.

Continue Reading: IRA account value down? It might be a good time for a Roth conversion