Converting to a Roth IRA could allow a taxpayer to reduce their income tax obligation in the long run by paying the taxes up front on a smaller balance.

The decision of whether to save for retirement through a Roth IRA or through a traditional IRA is a complex matter that can have significant financial implications in both the short term and the lo… ...

The amount of a contribution to both a traditional IRA and a Roth IRA is the lesser of $7,000 per taxpayer or the earned income of the taxpayer […] Skip to content All Sections ...