Unlike with traditional IRAs, Roths do not provide tax savings, so anyone converting such funds to a Roth must pay federal income taxes on the amount converted.

Americans say it takes $2.3 million to be wealthy, but income alone doesn't tell the full story. Net worth, debt, and financial flexibility matter just as much.

The Odessa American is the leading source of local news, information, entertainment and sports for the Permian Basin.

An increase in the deduction limit sounds like great news for high earners — but a big tax penalty could be headed your way.

With most of your tax documents likely in hand, it’s time to think about when to file your 2025 return. This year more than most it makes sense to explore filing as soon as possible, as refunds ...

You spent 40 years earning that money. Don't let the IRS keep $1,000 or more of your savings just because you didn't check the right box.

The Internal Revenue Service said taxpayers can file electronically, track refunds, access records and get answers faster ...

Think Social Security is solid and unchanging? Think again. Right now, millions of Americans are counting on this program for ...