IraConversion

How the Taxes Work on a Roth IRA Conversion

When you contribute to a traditional IRA, you can deduct that money from your taxable income that year. When you contribute to a Roth IRA, you don't get the immediate tax benefit -- but you withdraw your money tax-free in retirement. It's also possible to convert from a traditional to a Roth, but you have to pay taxes to do so. A reader named Ron wants to know how that works, and when he'd have to pay the taxes. DailyFinance's Laura Rowley explains.

4 More Smart Tax Moves for the Holiday Season

Thanksgiving's still two weeks away: You're getting ready for Black Friday, not April 15. But all those one-day deals pale next to what you could save on your taxes by taking a few smart steps before Dec. 31. In part two of this report, we offer four more ways to help your bottom line on April 15.