The Different Types of IRAs

The Different Types of IRAs

Individual retirement accounts (IRAs) offer a way to save for retirement. In a general sense, IRAs are dependent on the same basic rule as the retirement account options offered by an employer. IRAs have contribution limits and allow you to withdraw cash without any...
How to Reduce Your Virginia State Income Tax

How to Reduce Your Virginia State Income Tax

What is it they say? There are two things you can count on in life, death, and taxes? Paying taxes is part of the American and Virginian way. While all 50 states in the US must pay the same federal income taxes, Virginian residents benefit from favorable income tax...
Planning for Inflation

Planning for Inflation

As the pandemic recedes, inflation has come to the forefront of economic news. The inflation rate in the U.S. hit 8.3 percent in April 2022, the highest rate in decades, but not the highest rate we’ve ever experienced (29.78% in 1778, and 19.66% in 1917 is the...
The Pros & Cons of Roth IRA Conversions

The Pros & Cons of Roth IRA Conversions

If you own a traditional IRA, perhaps you have thought about converting it to a Roth IRA. Going Roth makes sense for some traditional IRA owners, but not all. Why go Roth? There is an assumption behind every Roth IRA conversion – a belief that income tax rates will be...