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Tax Glossary
What Is a Roth Conversion?
A Roth conversion is a financial strategy where you move existing savings from a pre-tax retirement account, like a Traditional...
Tax Glossary
What Is a Roth 401(k)?
A Roth 401(k) is an employer-sponsored retirement account that allows you to contribute money after taxes have already been taken...
Tax Glossary
What Is a Rollover?
A rollover is the process of moving your accumulated savings from one tax-advantaged retirement account to another eligible retirement account...
Tax Glossary
What Is a Retirement Plan?
A retirement plan is a financial arrangement, often backed by unique federal tax laws, designed to help individuals save money...
Tax Glossary
What Is “ Resident alien ”?
A resident alien is a non-U.S. citizen who meets specific IRS residency criteria to be treated exactly like a U.S....
Tax Glossary
What Is a Required Minimum Distribution?
A Required Minimum Distribution (RMD) is the baseline amount of money that the IRS legally forces you to withdraw each...
Tax Glossary
What Is a Required Beginning Date?
The Required Beginning Date (RBD) is the absolute calendar deadline by which a retirement account owner must take their very...
Tax Glossary
What Is the REIT dividend component?
The REIT dividend component is a specific part of the Qualified Business Income (QBI) deduction calculation that allows investors to...
Tax Glossary
What Is “Recourse liability”?
A recourse liability is a type of business debt or loan for which at least one partner or owner bears...
Tax Glossary
What Is “Qualified trade or business”?
A qualified trade or business is any active economic activity or company that the IRS deems eligible for the 20%...