Federal tax credits are recorded on Form 1040 Schedule 3-- most also require a specific separate form, worksheet or schedule ... Saver's tax credit: Officially named the retirement savings ...

Going over IRA contribution limits triggers a 6% penalty on the excess amount for each year it's still in the account. To avoid getting hit with the tax, you need to do the following: Withdraw any ...

Robo-advisors are going beyond the typical welcome bonus for new account holders — you can now earn a match on your IRA contributions up to 3%. On a one-time contribution of $5,000, for example ...

If you want to make a second Roth IRA contribution within a single year, you still have time — as long as you make the second contribution before Tax Day: April 15. This might be a good idea if ...

“You can make two Roth IRA contributions in one calendar year and maximize your retirement savings potential,” said Nancy Gates, lead educator at Boldin, a financial planning platform.

Gordon Scott has been an active investor and technical analyst or 20+ years. He is a Chartered Market Technician (CMT). Michael is a full-time senior editor of investing and trading products for ...

Nondeductible IRAs grow tax-free and are an option if you earn too much to deduct your traditional IRA contributions. Reporting nondeductible IRA contributions on IRS Form 8606 helps you avoid ...

If you have a 401(k) or 403(b), personal finance expert Suze Orman says it might be time to consider a rollover — especially into an IRA or Roth IRA. On a recent episode of her "Women & Money ...

IRA withdrawals can get expensive even though you are accessing your money. The benefits of avoiding taxes on contributions mean you’ll have to contend with taxes on withdrawals. Take it slow ...