How to Pay Taxes on an IRA Conversion?

Answer Converting traditional retirement assets into a Roth IRA is attractive to many investors who want to earn tax-free income in retirement. However, the Internal Revenue Service requires you to pay th... Read More »

Top Q&A For: How to Pay Taxes on an IRA Conversion

When are taxes due on a Roth conversion?

On April 15, taxes are due on a Roth conversion when the taxpayer has withdrawn money from a 60-day transfer of funds and has not returned the portion of money withdrawn within the 60 days. The tax... Read More »

How to Get Out of Estate Taxes & Income Taxes Without Moving States?

If you do not do any estate planning, your heirs could end up with a hefty estate tax and income tax bill when you die. The estate tax is a tax that is paid based on the total assessed value of you... Read More »

Can You File State Income Taxes Before Federal Taxes?

Although you do not have to file your federal return first, many states' tax returns require information from your federal return. This means you will have to complete your federal return before yo... Read More »

What is the difference between payroll taxes&income taxes?

Payroll taxes and income taxes are two sources of revenue for the government. Payroll taxes are also known as FICA taxes.FunctionPayroll taxes only apply to earned income such as wages, salaries an... Read More »