Word: iras
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...income tax on the amount you shift. But the money can be withdrawn tax-free in retirement. Generally, if you meet the income limits (less than $100,000 household income), won't need the money for at least 10 years, and can pay the tax without dipping into IRA funds, you should convert. By doing so before year-end, you get to spread the resulting tax bill over four years. If you've already converted and find that your stocks or funds have fallen in value, reconvert to cut your tax bill...
...Education IRA, which lets you set aside $500 per child each year, must be funded by year-end. Like the Roth, it allows your money to grow and be withdrawn for college free of tax, but it offers no deduction. You can take as much as a $1,500-per-student credit on 1998 taxes by using the Hope Scholarship and prepaying now for the college spring semester. You can take up to a $1,000 credit per family by using the lifetime learning credit. Each program has income limits and other restrictions...
...pair gains with losses, or to realize up to $3,000 of losses to set against ordinary income. Consider swapping a loser stock fund with a similar-style fund to stay invested but realize the loss. Finally, if you turned 70 before June 30, you must take an IRA or 401(k) distribution now--or pay a 50% surcharge. You can get relief, but the process is more painful than battling rabid shoppers on Christmas...
...MARRIED A COMMUNIST Iron Rinn, ne Ira Ringold, is a prominent radio actor during the late '40s and early '50s whose career collapses when his estranged wife writes a book titled, quite accurately, I Married a Communist. Philip Roth filters the story of Rinn's downfall through the memories of two men who loved and admired him. The mania of the Red-baiting days is recorded with perfect pitch. Roth's look at the past is harrowing and mesmerizing...
...James Van de Velde, who was advising on Jovin's thesis and lives just blocks from the crime scene, told the New Haven, Conn., Register that he was grilled by police and asked if he killed her. "They had no relationship other than teacher and student," said his lawyer Ira B. Grudberg. "He denies having anything to do with the murder...