Financial Fellow

   Written by J.P. Wicklein

     Ever wonder what tax bracket you’re in?  To answer this question you need to know your taxable income for the year. The last taxable dollar you earned in a year will tell you what tax bracket you belong in. For example, if you had a taxable income of $68,000 during 2008 the last taxable dollar you earned for the year is the $68,000th dollar.

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   Written by J.P. Wicklein

     In 1998, the U.S. Congress created the Roth IRA.  The Roth IRA differs from the Traditional IRA in several ways - the key difference being its tax structure. Whereas contributions to a Traditional IRA are often tax deferred, contributions to a Roth IRA are made with earned income that has already been taxed. Each type of IRA offers its own set of advantages.

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