Comments on: 5 Personal Finance New Year’s Resolutions http://20somethingfinance.com/5-personal-finance-new-years-resolutions/ Building Towards Personal Finance Success! Tue, 16 Mar 2010 04:31:35 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: IRS Payment Plan http://20somethingfinance.com/5-personal-finance-new-years-resolutions/comment-page-1/#comment-8189 IRS Payment Plan Sun, 21 Feb 2010 03:38:42 +0000 http://20somethingfinance.com/?p=12#comment-8189 Good point on the Roth! Roths are always overlooked because people too often focus on the immediate tax deduction of the traditional IRA. The ability to defer any tax on conversion is great. Good point on the Roth! Roths are always overlooked because people too often focus on the immediate tax deduction of the traditional IRA. The ability to defer any tax on conversion is great.

]]> By: Accountant Marketing http://20somethingfinance.com/5-personal-finance-new-years-resolutions/comment-page-1/#comment-5925 Accountant Marketing Wed, 16 Dec 2009 03:30:31 +0000 http://20somethingfinance.com/?p=12#comment-5925 Another thing to consider regarding a Roth IRA is that if you convert in 2010, you may elect to pay all of your taxes in 2010, or 50 percent of the income resulting from the conversion will be included in 2011 tax filing and 50 percent in 2012 tax filing. Taxes will be paid at whatever federal income tax is applicable for those tax years. All taxes on conversions before and after 2010 will be due in the year rate converted. Another thing to consider regarding a Roth IRA is that if you convert in 2010, you may elect to pay all of your taxes in 2010, or 50 percent of the income resulting from the conversion will be included in 2011 tax filing and 50 percent in 2012 tax filing.

Taxes will be paid at whatever federal income tax is applicable for those tax years. All taxes on conversions before and after 2010 will be due in the year rate converted.

]]> By: Britt (Your Roth IRA) http://20somethingfinance.com/5-personal-finance-new-years-resolutions/comment-page-1/#comment-3752 Britt (Your Roth IRA) Thu, 21 May 2009 18:33:04 +0000 http://20somethingfinance.com/?p=12#comment-3752 #3 hits home for me. We’ve saved drastically on home energy costs by replacing all of our regular old light bulbs with compact fluorescents. As a result, we saved 30% on our electricity bill. We also added weather-stripping to our windows and doors, as well as “pillow snake” to lay at the bottom of our front door. The gas bill (winter heat) and the electric bill (summer air conditioning) both realized noticeable decreases in energy use year-over-year. Currently, we rent a house… At least until home prices decline in our area. For those who own a home, I might suggest more extensive measures. Replacement of your old water heater with a more energy efficient version. Also, check the insulation in your attic and underneath your house. Better insulation might save you significant energy loss. Energy efficient appliances can also be a source of savings as well as unplugging appliances when they’re not in use. #3 hits home for me. We’ve saved drastically on home energy costs by replacing all of our regular old light bulbs with compact fluorescents. As a result, we saved 30% on our electricity bill. We also added weather-stripping to our windows and doors, as well as “pillow snake” to lay at the bottom of our front door. The gas bill (winter heat) and the electric bill (summer air conditioning) both realized noticeable decreases in energy use year-over-year. Currently, we rent a house… At least until home prices decline in our area.

For those who own a home, I might suggest more extensive measures. Replacement of your old water heater with a more energy efficient version. Also, check the insulation in your attic and underneath your house. Better insulation might save you significant energy loss. Energy efficient appliances can also be a source of savings as well as unplugging appliances when they’re not in use.

]]> By: Michael http://20somethingfinance.com/5-personal-finance-new-years-resolutions/comment-page-1/#comment-1030 Michael Mon, 17 Nov 2008 12:37:16 +0000 http://20somethingfinance.com/?p=12#comment-1030 G.E. - great post. I'm thinking of making a Roth IRA since I'm now maxing out my company 401k, but I've a couple questions: 1) The contribute $ before April 15th tax year thing... Does that mean if I contribute $5,000 now in November, I can't contribute more until after next Jan, next April, or next Nov? Not sure how that works... 2) TradeKing's commissions are 50% lower than E-Trade and Scottrade ($5 Vs $10), and Zecco.com gives 10 free trades/month... They offer similar insurance to protect your money... so why pick a broker with higher commissions? The human side of the service is almost irrelevant to me. Does it just come down to the tools? Thanks for any thoughts on this. -Michael G.E. – great post. I’m thinking of making a Roth IRA since I’m now maxing out my company 401k, but I’ve a couple questions:

1) The contribute $ before April 15th tax year thing… Does that mean if I contribute $5,000 now in November, I can’t contribute more until after next Jan, next April, or next Nov? Not sure how that works…

2) TradeKing’s commissions are 50% lower than E-Trade and Scottrade ($5 Vs $10), and Zecco.com gives 10 free trades/month… They offer similar insurance to protect your money… so why pick a broker with higher commissions? The human side of the service is almost irrelevant to me. Does it just come down to the tools?

Thanks for any thoughts on this.

-Michael

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