Yes, you can undo a Roth IRA conversion

Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional IRA — subject to income taxes on all earnings and deductible contributions — and then discover that...
3 midyear tax planning strategies for individuals

3 midyear tax planning strategies for individuals

In the quest to reduce your tax bill, year end tax planning can only go so far. Tax-saving strategies take time to implement, so review your options now. Here are three strategies that can be more effective if you begin executing them midyear: Consider your bracket...
Pay attention to the details when selling an investment

Pay attention to the details when selling an investment

The tax consequences of the sale of an investment, as well as your net return, can be affected by a variety of factors. You’re probably focused on factors such as how much you paid for the investment vs. how much you’re selling it for, whether you held the investment...
It’s time to harvest investment losses

It’s time to harvest investment losses

If you hold investments outside of tax-advantaged retirement plans such as Individual Retirement Accounts and pension plans, you may be able to take steps before year end to reduce your 2016 tax liability. How to harvest investment losses Suppose you’ve sold...