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Saturday, November 1, 2014

Did you know about these tax breaks?

10 tax breaks enjoyed by the rich

Snippet of Article: "...After you reach age 59½, all the income and gains that accumulate in the Roth account can be withdrawn federal-income-tax-free, as long as you’ve had at least one Roth IRA open for more than five years. If federal income-tax rates go up in the future, the balance in your Roth IRA is blissfully unaffected. If you die, your heirs can dip into your Roth account without owing any federal income tax, as long as the account has been open for more than five years. Roth IRAs are exempt from the dreaded required minimum distribution (RMD) rules ..."

Reference: www.marketwatch.com

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