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Converting to a Roth? Give to charity, too

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in Small Business Tax,Small Business Tax Deduction Strategies

Depending on your situation, it may make sense to convert funds in a traditional IRA into a Roth IRA this year, with the promise of future tax-free payouts. But you might have a problem paying the current tax due on the conversion. Fortunately, there’s a way to offset the tax liability without reaching into your wallet.

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