Trading is great in a ROTH account: less "taxing" paperwork/record keeping!
Today’s federal income tax rates might be the lowest you’ll see for the rest of your life
Tax brackets have been temporarily lowered and the standard deduction is DOUBLE this year.
Additionally, for owners of sole proprietorships, S Corporations and partnerships, if your taxable income is below $315,000 if married filing jointly, or $157,500 if single, your pass-through deduction is equal to 20% of your qualified business income (QBI)
After reaching age 70½, you can still make annual Roth IRA contributions.
You cannot make any more contributions to traditional IRAs after you reach age 70½.
Unlike with a traditional IRA, you don’t have to start taking annual required minimum distributions (RMDs) from Roth accounts after reaching age 70½, plus RMDs may effect your tax bracket just when the brackets increase.
There are income limits on ROTH contributions but there is a back door where contributions to a regular IRA are converted to ROTH.
In 2026, the pre-TCJA rates and brackets are scheduled to come back into force.
May you all have the best ever new year.
Edited by Rogerdodger, 31 December 2018 - 02:59 PM.