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Miami Herald
12-07-2025
- Business
- Miami Herald
Roth IRA conversions just got more complicated
Roth IRA conversions have long been a go-to strategy for managing long-term tax liability. By moving funds from a traditional IRA to a Roth IRA - triggering ordinary income tax in the year of conversion - taxpayers can secure tax-free growth and tax-free withdrawals down the road. But thanks to the newly enacted One Big Beautiful Bill Act (OBBBA), the Roth conversion calculus just got more complicated. According to LISI Income Tax Planning Newsletter #267, authored by Keebler & Associates Partner Robert Keebler and Jim Magner, an advanced planning attorney at The Guardian Life Insurance Company of America, OBBBA's new tax provisions introduce both opportunities and landmines. Don't miss the move: Subscribe to TheStreet's free daily newsletter "While Roth conversions will continue to be a cornerstone of first-class planning, the impact of both the senior and SALT deductions - as well as the SALT phaseout -should be modeled," Keebler and Magner wrote. Image source: Bermix Studio on Unsplash One headline provision in the new law is a $6,000 deduction for taxpayers age 65 or older - or $12,000 per couple. But it comes with a phaseout: The deduction is reduced to zero between $150,000 and $250,000 of modified adjusted gross income (MAGI). MAGI is your adjusted gross income (Line 11 on IRS Form 1040) plus certain deductions added back, and it's used to determine eligibility for various tax benefits, including this new senior deduction. Keebler and Magner warn this phaseout creates a new tax cliff for Roth conversions. At $150,000 of MAGI, a married couple over 65 qualifies for the full $12,000 deduction - translating to a $2,640 tax savings. Related: Retired workers to see frustrating change to Medicare in 2026 But a $100,000 Roth conversion, if it pushes MAGI to $250,000, could not only trigger a 22% income tax, but also wipe out the senior deduction. "At first glance, it appears that a $100,000 conversion would generate additional federal income taxes of $22,000," they wrote. "However, the actual result is an increase in federal tax of $24,640, with the difference being the loss of the Senior deduction." Planning tip: Tax projections should model the marginal impact of the lost deduction. In some cases, it may be smarter to convert earlier - before age 65 - to lower future MAGI and preserve eligibility for the senior deduction later. Roth conversions are taxed as ordinary income at the federal and state levels. Under the Tax Cuts and Jobs Act of 2017 (TCJA), state income taxes became largely non-deductible, increasing the cost of conversions for taxpayers in high-tax states. More Personal Finance: Dave Ramsey sends strong message to Americans on MedicareJean Chatzky offers critical advice on 401(k)s, Social SecuritySuze Orman sends message on growing Social Security problem The OBBBA changes that by raising the SALT (state and local tax) deduction cap to $40,000, which can reduce the effective tax burden on conversions. For some, this makes conversions more attractive - as long as they stay below the SALT cap. "A planner may consider limiting Roth conversions in such a way to avoid exceeding the $40,000 SALT limitation," Keebler and Magner advised. Just as with the senior deduction, planners should isolate this benefit in tax models to determine whether the deduction increases the net benefit of converting. The SALT deduction, however, comes with its own phaseout for high earners. Taxpayers with MAGI over $500,000 face a 30% phaseout of the SALT deduction on income exceeding that threshold. By the time MAGI hits $600,000, the deduction shrinks to the statutory floor of $10,000. Here's an example from Keebler and Magner: Randy and Sarah have MAGI of $500,000 and itemized deductions of $75,000, including a $40,000 SALT deduction. They execute a Roth conversion of $100,000, pushing MAGI to $600,000. As a result, their SALT deduction is slashed to $10,000. Related: Who saves money due to 'Big Beautiful Bill' tax cuts? Translation: Their income went up by $100,000, but their taxable income rose by $130,000. At a 35% marginal rate, their effective rate on the conversion is 45.5%. "This hidden 10.5% tax rate increase will almost certainly eliminate most, if not all, the benefits of this Roth conversion," the authors noted. That said, they add, a larger conversion may still make sense in the long run - but only if long-term tax projections justify the tradeoff. Roth conversions remain a powerful planning tool, but under the One Big Beautiful Bill Act, they demand greater precision and modeling. Planners (and taxpayers) must now account for the interaction between new deductions, phaseouts, and income thresholds. As Keebler and Magner emphasize, what once was a straightforward tax decision now requires a more nuanced, scenario-by-scenario analysis. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Time of India
17-05-2025
- Business
- Time of India
Top 10 best-selling cookies in America
Image credits: Getty Images If there's a sweet treat that is easy to make, convenient to carry and delicious to eat- it's a cookie. These store-bought delicacies come with a burst of flavours, and joy in every mouthful. The US specifically has a variety of cookies and biscuits ranging from chewy and soft to crisp and buttery. But which are the most popular cookies in the United States? Let's find out. Oreo Image credits: Getty Images Oreo, owned by Mondelez International, is the most popular and best-selling cookie in the United States. The iconic sandwich cookies and its multiple flavours are loved by many who either eat them alone or love to dunk them in milk. Chips Ahoy! Image credits: Getty Images Another top player in the cookie world is Chips Ahoy!, a brand owned by Nabisco, which offers tasty chocolate chip cookies. Keebler Image credits: Getty Images Popular for its Fudge Stripes and Chips Deluxe Cookies, Keebler, a brand owned by Ferrero Group, is another go-to choice in the United States. With its playful branding and diverse flavours, the cookies from Keebler are loved by many. Pepperidge Farm Image credits: Getty Images Pepperidge Farm cookies are ones that you are bound to have tried at least once. The brand's Milano and Sausalito cookies are some of the most popular ones, though it has many other options. Famous Amos Image credits: Getty Images The perfect bite-sized cookies in chocolate flavour are the Famous Amos, which are popular for their flavours and convenient packaging. Girl Scout Cookies Image credits: Getty Images Girl Scout Cookies are so popular that they are mentioned in books and shows, too. The brand is popular for supporting young girls through cookie sales and its flavours, such as Thin Mints and S'mores, are crowd favourites. Lenny & Larry's Image credits: X/@iheartpublix While most cookies target taste, Lenny & Larry's combine taste with health to create cookies that contain plant-based proteins. These are dairy-free, egg-free and perfect for health-conscious consumers. Entenmann's Image credits: Getty Images One of the oldest cookie brands in the list is Entenmann's, which began in 1898. The bakery brand sells a variety of baked treats, including cookies. Tate's Bake Shop Image credits: Getty Images For their simple ingredients and thin, crispy shape, the Tate's Bake Shop cookies offer buyers a homemade taste they can't help but want more of. Insomnia Cookies Image credits: Getty Images This chain of bakeries in the United States is popular for delivering warm cookies late at night. They are popular among young adults and students for the convenience and variety. One step to a healthier you—join Times Health+ Yoga and feel the change
Yahoo
14-05-2025
- Business
- Yahoo
‘Hiring is really no different than it was a year ago': CSU on job outlook for graduates
COLUMBUS, Ga. () — Following graduation last Friday, some Columbus State University (CSU) students are out of the frying pan and into the fire. They're joining millions of Americans who are looking for jobs, as concern surrounding hirability mounts. 'I think what's different right now is that there's pessimism about the economy due to the recent federal government layoffs and also the possibility of recession because of the tariffs,' said Patrick Keebler, director of CSU's Center for Career Design. Keebler is a newcomer to CSU and he's on a mission to make sure its students find jobs. Next year, the career center will implement single-credit courses, and additional programs, which it hopes will prepare students for the workforce. Although Keebler has observed rising student concern about getting hired this year, he said the job market is looking steady. 'Hiring is really no different than it was a year ago, and a year ago it was actually quite good,' Keebler said. In April of 2025, the unemployment rate was 4.2%, according to the Bureau of Labor Statistics. Keebler said, thousands of jobs and internships approach CSU students with opportunities each year. 'We're helping students become career resilient so that they're able to thrive in the labor market, regardless of the economic conditions,' Keebler said. As of now, CSU doesn't have career outcome data for its graduating class. Keebler expects to have those numbers within the next year. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Miami Herald
14-05-2025
- Entertainment
- Miami Herald
New Nerds Gummy Clusters Candy Wins ‘Most Innovative' Award During Debut
A new variety of Nerds Gummy Clusters just won a huge award ahead of its official release. The Sweets & Snacks Expo kicks off in Indianapolis today, with several big-name brands showcasing all-new products and returning favorites for 2025 and early 2026. So far, we've learned about a first-ever flavor of Nutella, an upcoming Crunch bar variety, the new look coming for Ferrero Rocher, got a preview of Butterfinger's new marshmallow-flavored bar, new Keebler cookies, and even had a highly-awaited Tic Tac collab confirmed. But now that the event is officially here, experts are releasing their top picks for "Most Innovative" new snack and sweets releases, and unsurprisingly, the new Nerds Juicy Gummy Clusters won for the Gummy category. Related: Gushers Brings "Impossible to Ignore" Fan Request to Life With New Release "The Most Innovative New Product Awards are a celebration of the creativity and ingenuity that keeps people coming back to the candy and snack aisles," John Downs, president & CEO of the National Confectioners Association, the host organization for Sweets & Snacks Expo, said in a May 12 press release. "Consumers turn to confectionery and snack products to add a little sweet or salty touch to special occasions and everyday moments. This year's MINPA winners are outstanding examples of the ways in which the confectionery and snack industries are delivering products to meet consumers where they want to be met." According to a description reviewed by Parade, the new subline will "unleash all of your senses with an epic bigger-than-ever candy experience" and is said to feature "a delicious strawberry punch flavor combined with the crunchy, gummy, juicy textures in a satisfying bite for a next level experience that only NERDS can bring." When our editors inquired about the new release about a week ago, a spokesperson for the brand confirmed that while it's excited to announce the release at the expo, other details would have to wait "closer to launch." Related:New Trolli Sour Candy Offers "Enhanced" Sensory Experience An official release date for the new Juicy Gummy Clusters has not yet been made public, but it's likely safe to assume that fans will see them on shelves by year-end or within the first quarter of 2026. Along with the Nerds candy, other new product award winners this year include: Amos Tastysounds JinglePop Graffiti, Most Innovative New Seasonal Product Belle's Gourmet Popcorn Matcha Latte Popcorn, Best In ShowChunk Nibbles Toffee Sweet & Salty Clusters, Most Innovative New Sweet SnackJuicy Drop® Gummy Mystery Cube 5oz Original Flavor, Most Innovative New Non-Chocolate CandyNomad Snacks Pad Thai Flavored Ready-to-eat Popcorn, Most Innovative New Small Business InnovatorPop & Sol Coconut Flaked White Chocolate Covered Cashews, Most Innovative New Chocolate ProductSnak Club Ramen flavored Snack Mix, Most Innovative New Savory SnackTrashy Gourmet Shortbread Cookies with Mini Strawberry Boba from Molly Bz Cookies, Most Innovative New Baked Good. Next:Popular Pudding Brand's New Flavor Has Fans' Attention: "Stop Playing" Copyright 2025 The Arena Group, Inc. All Rights Reserved
