But next year, think about keeping more of your money throughout the year
Tens of millions of Americans have already received tax refunds – and millions more will cash checks before tax season is over.
A Roth contribution is made with after-tax dollars, so there’s no deduction today, but when you withdraw funds in retirement, there is NO tax due. With traditional IRAs, you are entitled to a tax deduction today, but when you withdraw the money , the government will tax all of the funds as income, at whatever your tax bracket is at that time.
As far as using a refund to pay down an outstanding mortgage balance, it depends on your situation and the rate of the loan.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
J.Jill Reports Q4 Profit Gain, Beats ExpectationsJ.Jill (JILL) posts fourth-quarter profit gain, beating expectations.
Read more »
Jill On Money: Is the labor market turning and are we measuring inflation correctly?Credit card debt may be behind the sour outlook of many consumers
Read more »
Jill On Money: Will real estate commissions settlement impact home prices?In a real estate market that remains dislocated due to low levels of inventory, the answer is probably not any time soon
Read more »
Jill On Money: Financial cleanup — What to keep and what to shredSome documents can go after a month; others should stay with you forever
Read more »
Barry Manilow to Co-Host Fashion Mogul Michael Smith’s Mega Jill Biden FundraiserSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
First Lady Jill Biden visiting Southern California this weekendFirst Lady Jill Biden is coming to Southern California for a four-day visit to make appearances at events in Los Angeles and Rancho Mirage.
Read more »