Author Description

IMAGINE HAVING AN INCOME TAX-FREE RETIREMENT INCOME! It's possible with a Roth IRA or Roth 401(k) account! In this compact explanation updated for the CARES Act and the SECURE Act, Michael Gray, CPA gives the highlights of what you need to know to build a big, tax-deferred or tax-free retirement account and get the maximum benefits from it. * How do the advantages and disadvantages of a Roth account compare to those of an IRA account? * How can you use a rollover from a 401(k) or other employee retirement account to create a big Roth or IRA account? * Many people have become disenchanted with the stock market. How can you use a self-directed Roth or IRA account to make alternative investments, such as in real estate or private mortgages? * What are the prohibited transactions that can result in disqualification (treated as instant distribution) of your Roth or IRA account? * When can a Roth or IRA be required to pay income taxes? Should you go ahead with an investment that generates income taxes for the Roth or IRA anyway? And much more!