if your income plus 50% of your social security benefit is tax on a portion of your benefit financial connection by suze orman the path to roth roth traditional converting your retirement accounts caveats to consider any costco members have submitted questions about traditional ira into a roth you proceed converting can look appealing and iras is subject to mandatory annual withdrawals once you turn 7072 the federal government imposes these required minimum distributions you owe on 100% of all withdrawals tax bills in retirement money in a roth ira is exempt withdraw the money in retirement it will be tax-free avoid rmds if you roll it into a roth having access to tax-free money can be a big help in managing your tax bill total taxable income will affect whether you will owe a tax on your social security benefits-and how much will be taxed-and help determine your that is another reason to consider reducing your exposure to rmds working consider making new contribu- marc royce traditional account to a roth account the big issue you need to anticipate is that every dollar you convert will be taxed as ordinary income in the year you you don't want a too-large conversion to cause your current-year income to balloon to the point that it lands you in or tax pro with experience in roth conversions can help you figure out how much to convert in any single year without bumping yourself into a higher tax bracket you can then repeat the exercise in subsequent years participants to move money saved in the the other way to convert a traditional vert the traditional ira to a roth ira suze orman is an emmy award- winning tv host new york times bestselling author and motivational answer selected questions in this that unpublished questions cannot be answered individually email connection acostco.com please include "financial connection" in the subject line selling a home there is a tax break when you sell your home for less than amount of your capital loss when you sell a home that was your primary residence waiting for a home's value to get back to breaking even how long the wait may be if you want to sell now and you can afford to absorb the
