There may never be a better time to open a Roth account Roth IRAs offer tax-free earnings growth and as Peter with Richon Planning explains to Erin Kennedy there are clear-cut reasons you should consider investing in a Roth today Today's Historically Low Tax Rate the Tax Cuts and Jobs Act which reduced federal income tax rates is set to sunset in Your Depreciated Portfolio pay taxes on a smaller value now then allow that future growth to happen tax free Possible Elimination of Backdoor Roths the Build Back Better Act proposed ending Backdoor Roths the loophole dodged the axe [... more]

If you're nearing the age to take Required Minimum Distributions or RMDs and you want to avoid the extra income and its tax implications Peter Richon with Richon Planning and Erin Kennedy break down three strategies to consider Peter recommends these strategies to help reduce your tax exposure Consider taking distributions as early as possible Roth Conversions Qualified Charitable Distributions or QCDs Keep in mind RMDs are income so taking those distributions can boost your taxable income and your income taxes for the year which is why strategic tax planning is so important If you have any questions about these [... more]

If you're considering converting an IRA to a Roth IRA in the clock is ticking In this video Peter with Richon Planning and Erin Kennedy break down everything you need to know before making a decision Keep in mind we are in a historically low tax rate Paying your taxes now will allow your money to grow tax free and any future withdrawals will not be taxed Also to help manage your tax liability you may choose to convert just a portion of your assets There is no limit to the number of conversions you can make so you may [... more]

If you don rsquo t know what HSA stands for it rsquo s time to find out Health savings accounts or HSAs are a great way to save on medical expenses and reduce your tax liability On the next MoneyWise Live hosts Rob West and Steve Moore break down the facts about HSAs and help you understand if they rsquo re the right move for you It rsquo s all about HSAs on MoneyWise Live at pm Eastern pm Central on Moody Radio [... more]

One of the biggest burdens on small business growth is taxes Business owners often get into business because they have a great idea or product Too often they go out of business because they run afoul of the IRS and their tax liability Author of Small Business Tax Guide Dan Pilla joins us on the program to address some of the biggest tax traps and challenges business owners face how to know about them and address them [... more]

It's not what you make it's what you keep And the biggest thing standing in between is taxes Taxes are one of our largest known expenses Many people try to save on taxes for income they earned last year without planning to save in all the years ahead Tax reform has given us some great opportunities to save to plan and to minimize your lifetime tax liability Listen to this week's episode to understand the opportunities and strategies you should consider in your planning to keep more of what you make [... more]

It is the most unwonderful time of the year Tax Season How do you manage to KEEP more of what you earn Peter Amber Richon share some top tips and important strategies you need to know about planning to minimize your lifetime tax liability [... more]