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A Closer Look at IRAs—Roth vs. Traditional

    Roth IRA Traditional IRA 10% penalty for withdrawals prior to age 59½ Yes** Yes** Tax-deductible contributions No Yes*** Tax-deferred accumulation Yes Yes Tax-free distribution Yes No Mandatory minimum withdrawals requiredto start at age 70½ No Yes  *Withdrawals after age 59½...

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A Small Business Owner’s Guide to Payroll Taxes | A Legal Leg To Stand On

One of the more onerous tax issues facing business owners is determining what type of employee compensation is taxable. This may be especially true for small business owners who often wear many administrative hats and may not have the luxury of an in-house accountant to answer complex tax...

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