RothIraConversion

How to Sneak Into a Roth IRA Through the 'Back Door'

The Roth IRA is one of the best retirement vehicles around, thanks primarily to its terrific tax advantages. The only problem is that some people earn too much, and aren't qualified to contribute directly to one. Fortunately, there's a way around those restrictions.

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.

Save on Taxes with a Roth Conversion Right Now

Here's another reason not to panic about about the prospect of a bear market: Doing a Roth conversion while the market's down can save you in taxes. It's a little complicated, but completely worth it. Read on to find out how.