Contributing to a Roth IRA in a Low-Income Year
There's not much good news in today's coronavirus-induced economic calamity, between mass layoffs, furloughs and salary reductions, temporary or otherwise. Millions of Americans are likely to end the year with a reduced income. But a crisis sometimes offers opportunities. For those who are financially able, a low income year offers a unique option to save in a Roth IRA and pay a low tax rate on your contributions.