How to Avoid Tax Underpayment Penalties When Performing a Roth Conversion!

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Do you know you can't just wait until tax time in order to pay a balance you owe to the IRS?

If you do, you may be subject to a tax underpayment penalty and have to pay future quarterly estimated taxes. Neither of which are very fun...

Withholding the right amount for taxes is a problem throughout retirement but specifically is a problem that can arise with Roth Conversions.

Roth Conversion taxes can be paid in numerous ways. From withholding taxes right out of the conversion to paying taxes from your checking or savings accounts.

Regardless of how you pay taxes, the IRS will force you to pay those taxes at a specific time or face IRS penalties.

In this video, we are going to clear up a hot button issue in regard to Roth Conversions - How to pay the right amount in taxes at the right time

We will discuss:

✅ How to pay estimated taxes in order to avoid underpayment penalties

✅ The way you withhold taxes will vary based on what source you are paying those taxes from

✅ How to meet one of the three guidelines the IRS specifies you need to meet in order to avoid IRS penalties
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Видео How to Avoid Tax Underpayment Penalties When Performing a Roth Conversion! канала Safeguard Wealth Management