Taxes

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Asked by Kathleen
Answered by Dan Crimmins, Financial Adviser in Woodcliff Lake, NJ
Kathleen - It is great that you are saving for your retirement. The difference between a Roth IRA and a traditional IRA is when the tax is due. When you contributed...
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Asked by an anonymous user
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
Hi - You should check with a Certified Public Accountant (CPA) in your local area for specific tax advice. There was a forgiveness program for canceled debts that ex...
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Asked by John
Answered by Barry Rabinowitz, Financial Adviser in Plantation, FL
There is a big difference. A 529 has special tax rules, whereby if the funds are used for tuition, laptops, etc, all growth can be withdrawn income tax free. Also, in...
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Asked by Connors Sue
Answered by Kim Miller, CFP®PRO+ in Redmond, WA
Hi - I like those words "large profit". If this is a personal residence and you've lived in the house for at least two years, there is no federal income tax on a gai...
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