Roth Conversions And State Income Tax – Total Financial Solutions Safer Money Hour – August 22, 2017

by | Aug 22, 2017 | Podcasts |

Roth Conversions And State Income Tax – Total Financial Safer Money Hour – August 22, 2017

by Total Financial Safer Money Hour

Hosts: Arif Halaby & Jeff Girard

Topic: Roth Conversions And State Income Tax

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On this episode of Total Financial Solutions, Hosts Arif Halaby and Jeff Girard discuss Roth Conversions and State Income Tax.

A Roth IRA is an individual retirement account allowing a person to set aside after-tax income up to a specified amount each year.

When you convert from a Traditional IRA to a Roth IRA you pay income tax on the contributions. The taxable amount that is converted is added to your income taxes and your regular income rate is applied to your total income.

Previous Episode: Life Insurance As A Transfer Of Wealth – Total Financial Solutions Safer Money Hour – August 15, 2017

Traditional IRAs, 401k plans, 403b plans and 457 plans are typically composed of pretax dollars. Roth IRA contributions come from after-tax dollars.

Total Financial Solutions offers assistance with preparing for retirement and financial planning in Santa Clarita and the surrounding valleys. Santa Clarita financial advisor Arif M. Halaby, a Certified Estate Planner, and Total Financial Solutions staff work with people of all ages, helping them protect, grow and preserve their assets through an individualized approach. Arif Halaby is also the host of “Total Financial Solutions Safer Money Hour” on KHTS AM-1220. Launched in 2004, the show offers listeners from Santa Clarita financial planning tips and guidance for dealing with today’s ever-changing financial needs.

About Total Financial Solutions Safer Money Hour

Total Financial Solutions Safer Money Hour, with host Arif Halaby, President & CEO of Total Financial Solutions airs every Tuesday from Noon to 1pm on Santa Clarita’s Hometown Station, KHTS AM-1220.

About Us:

At Total Financial Solutions, our mission is to help you protect principal, provide guaranteed* income for life**, and design retirement strategies for your needs. We assist in building strategies to help you meet your financial goals. Read More...

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