Entering a Roth Through the Back Door

Is this retirement strategy right for you? The door to Roth IRAs is closed to some high-income taxpayers because of annual limits imposed on contributions. But you may be able to use a “back-door” method that is perfectly legal. This technique may help you preserve more assets for your eventual retirement. Background: With a Roth IRA,
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Promote Better Health in the Workplace

Wellness programs may offer benefits Take notice of these statistics: According to the Centers for Disease Control and Prevention (CDC), more than one-third (36.5%) of U.S. adults are considered obese. In 2008, the estimated annual medical cost of obesity in the United States was $147 billion U.S. dollars, while the medical costs for obese people
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How to Safeguard Your Computer Network

Steps for improving security measures Would you ask a salesperson to hold onto your wallet or pocketbook while you go shopping in their store? Of course not. Yet, in effect, some small-business owners are doing virtually the same thing with their computer networks when they conduct business online. It is almost like giving hackers a
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Study the Two Education Tax Credits

If your child is going back to college this fall, you may be in line for either one of two higher-education credits: 1. American Opportunity Tax Credit (AOTC): The maximum $2,500 AOTC may be claimed for each student in the family. It is available for up to four years of study. 2. Lifetime Learning Credit (LLC): The
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What’s the Tax Payoff from Gambling?

Losses may offset annual winnings Do you enjoy the thrill of gambling? Whether you end up winning or losing, it is important to understand the main tax rules related to your gambling activities. Otherwise, you may end up owing considerably more tax than you normally would have to pay. Background: On the federal level, gambling winnings
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