#RothIRA Archives | Hutchinson and Bloodgood LLP

Sometimes how much is in tax-deferred retirement accounts may be too much

Could your traditional 401(k) or IRA balance be too large? Maybe!

August 18, 2026

Contributing as much as possible to tax-deferred retirement accounts such as traditional 401(k)s and IRAs is a common recommendation. Contributions generally are pretax or deductible, and the power of tax-deferred compounding can help turbocharge growth. But some taxpayers can reach a point where maximizing tax deferral may become counterproductive. Potential downsides of tax-deferred saving After […]

#FinancialPlanning, #RothIRA, #TaxPlanning

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Retirement Planning

Self-employed? Don’t overlook a Roth IRA

Small business owners: If you think your income is too high for you to qualify to make Roth IRA contributions, think again. Many self-employed individuals are eligible for contributions without realizing it.

May 26, 2026

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Some small business owners overlook Roth IRAs because they assume their income is too high for them to qualify to make Roth contributions. Others may think their current tax rate is higher than it will be in retirement, making current tax deductions more valuable than future tax-free distributions. However, if you don’t at least consider contributing to […]

#RetirementPlanning, #RothIRA, #SmallBusinessTaxes

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Tax Planning

You may be able to make a deductible IRA contribution for last year this year

Easter,gold,egg,in,nest,on,black,background.,minimal,concept.

February 18, 2025

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If you’re getting ready to file your 2024 tax return and your tax bill is higher than you’d like, there may still be a chance to lower it. If you’re eligible, you can make a deductible contribution to a traditional IRA until this year’s April 15 filing deadline and benefit from the tax savings on […]

#IRA, #RetirementSavings, #RothIRA, #TraditionalIRA

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