Word: iras
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Dates: during 1990-1999
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Created two years ago, the Roth IRA eliminates many of the headaches in dealing with retirement savings in your retirement years. There are no mandatory distributions, and because the Roth is funded with after-tax dollars, there is no tax upon withdrawal. It's all yours--even the part that grew tax-free. Not everyone qualifies for a Roth. You must have an annual household income under $100,000 to convert an old IRA to a Roth, and under $160,000 ($110,000 for singles) to start one with new money...
...converted an old IRA into a Roth in 1998, you have until Dec. 31 to undo it. The deadline was recently extended to allow those who converted without knowing whether they qualified for the Roth the opportunity to correct their error. Many rushed to convert in 1998 because of a one-time grant to spread the resulting tax over four years. The effect, though, was to extend the period in which you can unconvert and then reconvert to the Roth. You'd want to do that if your IRA's value is much lower now than when you originally converted...
...have until April 15, or the date you file your return, to open a tax-advantaged IRA, assuming you qualify. But it's increasingly likely that you'll qualify for a Keogh, which must be established by year-end. A Keogh is a tax-deferred savings vehicle, like a 401(k), for the self-employed. If you have left your job and now derive income from consulting or serving as a board member, for example, you are eligible to open a Keogh by contributing, on a pretax basis, 25% of your earnings up to $30,000. Once the account...
...overcome these problems, figuring out ways to heal damaged cords and switch the power back on in spines long since gone dead. Even if Reeve and others don't walk by 2002, there is no limit to what may happen in the decades that follow. Says clinical neurologist Ira Black of the Robert Wood Johnson Medical School in Piscataway, N.J.: "There's been a revolution in our view of the spinal cord and its potential for recovery...
MUTUAL-FUND TAX DODGE On average, domestic mutual funds lose 2.5% of their total returns to capital-gains taxes, and few companies advertise their aftertax performance. Vanguard has become the first big firm to do so; others may follow. Until then, tax-minded investors--those investing outside an IRA or 401(k)--can find about 30 funds that are actively managed to minimize the tax hit. Here are a few top performers...