Latest news with #Range
The Irish Sun
2 days ago
- Lifestyle
- The Irish Sun
Home Bargains is selling a £3 buy that transforms your garden & adds privacy during the summer
SHOPPERS are obsessed with a new £3 buy that could transform your garden this summer - and it adds privacy. Home Bargains fans have fallen in love with the budget friendly item that will automatically elevate your outdoor space. 1 The W30 by H16xm fitting can be used to hold a variety of plants, flowers The "stylish" Jardin Corn Leaf Rope and Ferm Wall It's made from corn leaf and rope which gives the product a natural, handmade and unique feel. The W30 by H16xm fitting can be used to hold a variety of They can be picked up for just £2.99 online, or in stores. Read More As well as looking beautiful, these hanging baskets could also serve a practical purpose. Garden experts discovered the outdoor fixtures can work well as a natural privacy screen. If you have any Green-fingered gurus at Most read in Fabulous They also highlighted different types of plants that can be used, ranging from low maintenance to trailing. If you're keen to have something that doesn't require much work, but is fast-growing, options such as English ivy ferns, and creeping jasmine are recommended. The secret Home Bargains aisle shoppers always forget to check - with loads of delicious treats priced from just 59p Spider plants and Boston ferns are more popular choices when it comes to very lush, thick foliage. Meanwhile, Fuchsias and Petunias can add bright pops of colour and brighten up any patio, balcony or garden. But why stop at green plant and flowers - you could even try some vegetables. Cherry tomatoes, radishes, and baby carrots are just some of the yummy snacks possible. If they don't take your fancy, chilli peppers, Strawberries and lettuce can also be cultivated in hanging baskets. And, why not create a mini herb garden too - many including parsley, cilantro, and thyme love to be grown in the hanging planters. The experts warned how you will need to discover which areas of your outdoor space get the most sun. This comes as Home Bargains shoppers were also impressed with a £30 garden object. With the days getting warmer, Brits are looking for new ways to spruce up their This water feature is described as the perfect addition to any garden thanks to its LED lighting and interesting design. The Jardin Miniture Fairy Water Feature is scanning for as little as £29.99. That's £27 less than the Range's version, which is priced at a whopping £56.79. The small statue is frost resistant and has a five metre-long cable that plugs into any mains supply. Measuring 29.5x25x45cm, it's also a nifty device to help create some more privacy in any outdoor space. The description reads: "This stunning water feature can add class and style to your garden. "Place the water feature in your garden, add water and switch it on. "This water feature will fit perfectly in any garden, It will be the focal point in your outdoor space." The bargain store also delighted fans when Shoppers can now nab the new This One 5 things you didn't know about Home Bargains Home Bargains was founded by Tom Morris It's official name is TJ Morris Ltd but trades as Home Bargains The first store was opened in Liverpool in 1976 Around 30% of the stores range comprises clearance lines There are 575 stores nationwide
Yahoo
6 days ago
- Business
- Yahoo
Understanding the backdoor Roth IRA—How it works and why you should consider it
Retirement planning can feel like solving a jigsaw puzzle, especially for high-income households. If you're earning too much to qualify for a Roth IRA directly, you might assume that the Roth IRA's powerful tax advantages are out of reach. Think again. The Backdoor Roth IRA is a legal and strategic way for high-earners to enjoy the benefits of a Roth IRA without income limits standing in the way. This guide from Range explores how a Backdoor Roth IRA works, why it's valuable for high-net-worth households, and the specific steps and tax implications involved. Backdoor Roth IRA Explained High-income earners can bypass Roth IRA income limits legally. Tax-free growth and withdrawals with no required minimum distributions. Contributions to a traditional IRA can be converted into Roth. A Backdoor Roth IRA isn't a special account—it's a tax strategy. It allows individuals who make too much to contribute directly to a Roth IRA to fund one indirectly. Here's how it works in simple terms: First, you contribute after-tax dollars to a traditional IRA. Then, you convert that traditional IRA to a Roth IRA, enabling you to enjoy tax-free growth and tax-free withdrawals in retirement. It's an elegant workaround for those who want to take advantage of a Roth IRA's unique perks but are above the income eligibility limits. For high-income households, the Backdoor Roth IRA is more than a loophole—it's a strategic tax planning tool that comes with significant benefits for long-term wealth building. Here's why you should consider it: 1. Tax-Free Growth Once your money is in a Roth IRA, it grows completely tax-free. Unlike traditional IRAs where you'll eventually owe taxes on investment gains, a Roth lets your wealth grow and compound without interruption from taxes. 2. Tax-Free Withdrawals When you withdraw funds from a Roth IRA in retirement, you won't pay a penny in taxes on the contribution or the earnings (as long as you meet eligibility requirements). 3. No Required Minimum Distributions (RMDs) Unlike a traditional IRA, a Roth IRA does not require you to start withdrawing funds at age 73. This flexibility allows your retirement savings to grow for as long as you like—perfect if you're planning to pass wealth on to your heirs. 4. Access for High-Income Earners Normally, individuals with a modified adjusted gross income (MAGI) above a certain threshold cannot directly contribute to a Roth IRA. For 2025, the phase-out ranges are: Single filers: $150,000–$165,000 Married filing jointly: $236,000–$246,000 With a Backdoor Roth IRA, these limits no longer apply. Here's a step-by-step breakdown of how to create a Backdoor Roth IRA. Step 1. Contribute to a Traditional IRA Start by contributing after-tax dollars to a traditional IRA. The IRS allows annual contributions of up to $7,000 (or $8,000 for those aged 50 or older in 2025). Since your contribution is made with after-tax money, it's nondeductible, meaning you won't get a tax break on the contribution. Step 2. Convert to a Roth IRA Next, convert your traditional IRA to a Roth IRA. Most financial institutions allow you to do this easily online or with a quick call to your advisor. The conversion moves your funds into the Roth account, where future earnings will grow tax-free. Step 3. Pay Taxes on Any Pre-Tax Balances If your traditional IRA contains pre-tax contributions or earnings, you'll owe income taxes during the conversion. These taxes are calculated based on the pro-rata rule, which we'll cover below. Special Note on Timing Many financial advisors suggest completing the conversion as soon as possible after the traditional IRA contribution. This minimizes any taxable earnings generated between the contribution and conversion. Pro-Tip for Tax Efficiency To minimize complexities, some high-income earners choose to maintain no other pre-tax IRA balances. Why? The pro-rata rule could make a portion of your conversion taxable. IRS Pro-Rata Rule Explained The pro-rata rule applies if you have pre-tax funds in any traditional IRA accounts. For example, if 75% of your total IRA balances are pre-tax, 75% of the conversion will be taxable. Example: Traditional IRA #1 (Pre-Tax): $18,000 Traditional IRA #2 (After-Tax): $6,000 Total IRA Balance: $24,000 Conversion Amount (IRA #2): $6,000 Taxable Portion = 75% of $6,000 = $4,500 By avoiding pre-tax IRA balances via rollovers to 401(k)s, you simplify the Backdoor Roth strategy. Here are some scenarios where a Backdoor Roth IRA may be a smart choice: You're a high-income earner: If your salary exceeds Roth contribution limits, a Backdoor Roth unlocks access to this tax-advantaged account. You anticipate higher future tax rates: Roth IRAs allow you to 'lock in' your current tax rate, potentially saving you money in retirement. You want flexibility in retirement: With no RMDs, Roth IRAs let you manage your withdrawals on your terms. While the Backdoor Roth IRA can be a powerful strategy, there are some challenges to be aware of: Tax Complexity – The pro-rata rule can make tax calculations tricky. You may benefit from consulting a tax professional to optimize the strategy. Funding Limits – You can only contribute up to $6,500 annually (or $7,500 for those 50+). Five-Year Rule – Withdrawals from converted funds may trigger penalties if made before five years have passed or before age 59½. The Backdoor Roth IRA isn't the only tool in your arsenal. Here are a few complementary strategies to optimize your retirement savings: Mega Backdoor Roth IRA – If your 401(k) plan allows for after-tax contributions, you may be eligible for a Mega Backdoor Roth strategy. Charitable Giving – Strategic donations can reduce your MAGI and improve your overall tax picture. The Backdoor Roth IRA is a game-changer for high-net-worth households seeking long-term, tax-free growth. When used thoughtfully, it opens doors to significant retirement benefits originally designed for middle-income earners. This story was produced by Range and reviewed and distributed by Stacker.
Miami Herald
7 days ago
- Entertainment
- Miami Herald
Inside Google's plan to have Hollywood make AI look less doomsday
For decades, Hollywood directors including Stanley Kubrick, James Cameron and Alex Garland have cast artificial intelligence as a villain that can turn into a killing machine. Even Steven Spielberg's relatively hopeful "A.I.: Artificial Intelligence" had a pessimistic edge to its vision of the future. Now Google - a leading developer in AI technology - wants to move the cultural conversations away from the technology as seen in "The Terminator," "2001: A Space Odyssey" and "Ex Machina." To do so, the tech giant is funding short films about AI that portray the technology in a less nightmarish light. The Google initiative, called "AI on Screen," is a partnership with Santa Monica, California-based Range Media Partners, a talent management and production company that represents a wide variety of entertainment clients, including actors and writers. Range is producing the films. So far, two short films have been greenlit through the project: One, titled "Sweetwater," tells the story of a man who visits his childhood home and discovers a hologram of his dead celebrity mother. Michael Keaton will direct and appear in the film, which was written by his son, Sean Douglas. It is the first project they are working on together. The other, "Lucid," examines a couple who want to escape their suffocating reality and risk everything on a device that allows them to share the same dream. "They were looking for stories that were not doomsday tales about AI, which I was fine with, because I think we've seen so many of those," Douglas told The Los Angeles Times. "It's nice to see the more - not overly positive - but sort of middle-ground stories." The effort comes at a time when many Americans have mixed feelings about AI. A 2024 survey from Bentley University and Gallup showed that 56% of Americans see AI as doing "equal amounts of harm and good," while 31% believe AI does "more harm than good." Shifting the way AI is depicted in popular culture could help shift those perceptions, or at least that's what some techies and AI enthusiasts hope. Google has much riding on convincing consumers that AI can be a force for good, or at least not evil. The hot space is increasingly crowded with startups and established players such as OpenAI, Anthropic, Apple and Facebook parent company Meta. The Google-funded shorts, which are 15 to 20 minutes long, aren't commercials for AI, per se. Rather, Google is looking to fund films that explore the intersection of humanity and technology, said Mira Lane, vice president of technology and society at Google. Google is not pushing their products in the movies, and the films are not made with AI, she added. "Narratives about technology in films are overwhelmingly characterized by a dystopian perspective," Lane said. "When we think about AI, there's so much nuance to consider, which is what this program is about. How might we tell more deeply human stories? What does it look like to coexist? What are some of those dilemmas that are going to come up?" Google did not disclose how much they are investing in the films. The company said it wants to fund many more movies, but it does not have a target number. Some of the shorts could eventually become full-length features, Google said. Creators who work with Google are given access to tech experts at the company who can share more information about the technology. Does the technology in the script already exist, for example? How would it work in real life? "We're living with this technology and AI - the questions arise include: How does it affect us and how can we emotionally connect via this type of technology?" said Rachel Douglas, a partner at Range, who is married to Sean Douglas. AI has been a controversial topic in Hollywood, playing a major part in the 2023 writers' and actors' strikes. Actors fear their likenesses and voices being replicated and manipulated without permission or payment. Writers worry their work is being used without their permission to create AI-generated scripts and story outlines. Animation and special effects jobs could be gutted. Publishers and record labels have sued to protect their intellectual property. Negative public perceptions about AI could put tech companies at a disadvantage when such cases go before juries of laypeople. That's one reason why firms are motivated to makeover AI's reputation. "There's an incredible amount of skepticism in the public world about what AI is and what AI will do in the future," said Sean Pak, an intellectual property lawyer at Quinn Emanuel, on a conference panel. "We, as an industry, have to do a better job of communicating the public benefits and explaining in simple, clear language what it is that we're doing and what it is that we're not doing." AI companies, including OpenAI, Google and Meta, have demoed or shared their tools with movie and TV studios and directors. Meta has partnered with horror studio Blumhouse and Cameron's venture Lightstorm Vision on AI-related initiatives. On Tuesday, Google announced a partnership with "The Whale" director Darren Aronofsky's venture Primordial Soup, which will work with three filmmakers on short films and give them access to Google's AI video generator Veo. Proponents say the tech can make filmmaking cheaper and give artists more flexibility at a time when the movie business is struggling. "If we want to continue to see the kinds of movies that I've always loved and that I like to make and that I will go to see ... we got to figure out how to cut the cost of that in half," Cameron said on a podcast last month with Meta's chief technology officer. Cameron sits on the board of startup Stability AI. AI companies are finding other creative ways to make the technology more approachable. In one example, major artificial intelligence firm Anthropic is sponsoring an upcoming exhibit at the Exploratorium, a science and art museum in San Francisco. Eric Dimond, senior director of exhibits, said he hopes the exhibit, called "Adventures in AI," will cause more people to explore the costs and benefits of AI. Anthropic was not involved in the conceptualization of the exhibit, Dimond said, though visitors can interact with its AI model Claude, as well as AI tools from OpenAI and ElevenLabs. As Google and others try to put a softer focus around technology, moviegoers are still getting plenty of stories about the dangers of robots run amok. Recent tales of AI gone wrong include Blumhouse's 2023 horror film "M3GAN," about a robot who becomes so protective of a young girl that she starts wreaking havoc. Last year, another Blumhouse horror film, "Afraid," followed a family terrorized by an AI-powered assistant. This summer, "M3GAN" is getting a sequel, released in theaters by Universal Pictures. It's expected to be a box office hit. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Yahoo
7 days ago
- Business
- Yahoo
Understanding the backdoor Roth IRA—How it works and why you should consider it
Retirement planning can feel like solving a jigsaw puzzle, especially for high-income households. If you're earning too much to qualify for a Roth IRA directly, you might assume that the Roth IRA's powerful tax advantages are out of reach. Think again. The Backdoor Roth IRA is a legal and strategic way for high-earners to enjoy the benefits of a Roth IRA without income limits standing in the way. This guide from Range explores how a Backdoor Roth IRA works, why it's valuable for high-net-worth households, and the specific steps and tax implications involved. Backdoor Roth IRA Explained High-income earners can bypass Roth IRA income limits legally. Tax-free growth and withdrawals with no required minimum distributions. Contributions to a traditional IRA can be converted into Roth. A Backdoor Roth IRA isn't a special account—it's a tax strategy. It allows individuals who make too much to contribute directly to a Roth IRA to fund one indirectly. Here's how it works in simple terms: First, you contribute after-tax dollars to a traditional IRA. Then, you convert that traditional IRA to a Roth IRA, enabling you to enjoy tax-free growth and tax-free withdrawals in retirement. It's an elegant workaround for those who want to take advantage of a Roth IRA's unique perks but are above the income eligibility limits. For high-income households, the Backdoor Roth IRA is more than a loophole—it's a strategic tax planning tool that comes with significant benefits for long-term wealth building. Here's why you should consider it: 1. Tax-Free Growth Once your money is in a Roth IRA, it grows completely tax-free. Unlike traditional IRAs where you'll eventually owe taxes on investment gains, a Roth lets your wealth grow and compound without interruption from taxes. 2. Tax-Free Withdrawals When you withdraw funds from a Roth IRA in retirement, you won't pay a penny in taxes on the contribution or the earnings (as long as you meet eligibility requirements). 3. No Required Minimum Distributions (RMDs) Unlike a traditional IRA, a Roth IRA does not require you to start withdrawing funds at age 73. This flexibility allows your retirement savings to grow for as long as you like—perfect if you're planning to pass wealth on to your heirs. 4. Access for High-Income Earners Normally, individuals with a modified adjusted gross income (MAGI) above a certain threshold cannot directly contribute to a Roth IRA. For 2025, the phase-out ranges are: Single filers: $150,000–$165,000 Married filing jointly: $236,000–$246,000 With a Backdoor Roth IRA, these limits no longer apply. Here's a step-by-step breakdown of how to create a Backdoor Roth IRA. Step 1. Contribute to a Traditional IRA Start by contributing after-tax dollars to a traditional IRA. The IRS allows annual contributions of up to $7,000 (or $8,000 for those aged 50 or older in 2025). Since your contribution is made with after-tax money, it's nondeductible, meaning you won't get a tax break on the contribution. Step 2. Convert to a Roth IRA Next, convert your traditional IRA to a Roth IRA. Most financial institutions allow you to do this easily online or with a quick call to your advisor. The conversion moves your funds into the Roth account, where future earnings will grow tax-free. Step 3. Pay Taxes on Any Pre-Tax Balances If your traditional IRA contains pre-tax contributions or earnings, you'll owe income taxes during the conversion. These taxes are calculated based on the pro-rata rule, which we'll cover below. Special Note on Timing Many financial advisors suggest completing the conversion as soon as possible after the traditional IRA contribution. This minimizes any taxable earnings generated between the contribution and conversion. Pro-Tip for Tax Efficiency To minimize complexities, some high-income earners choose to maintain no other pre-tax IRA balances. Why? The pro-rata rule could make a portion of your conversion taxable. IRS Pro-Rata Rule Explained The pro-rata rule applies if you have pre-tax funds in any traditional IRA accounts. For example, if 75% of your total IRA balances are pre-tax, 75% of the conversion will be taxable. Example: Traditional IRA #1 (Pre-Tax): $18,000 Traditional IRA #2 (After-Tax): $6,000 Total IRA Balance: $24,000 Conversion Amount (IRA #2): $6,000 Taxable Portion = 75% of $6,000 = $4,500 By avoiding pre-tax IRA balances via rollovers to 401(k)s, you simplify the Backdoor Roth strategy. Here are some scenarios where a Backdoor Roth IRA may be a smart choice: You're a high-income earner: If your salary exceeds Roth contribution limits, a Backdoor Roth unlocks access to this tax-advantaged account. You anticipate higher future tax rates: Roth IRAs allow you to 'lock in' your current tax rate, potentially saving you money in retirement. You want flexibility in retirement: With no RMDs, Roth IRAs let you manage your withdrawals on your terms. While the Backdoor Roth IRA can be a powerful strategy, there are some challenges to be aware of: Tax Complexity – The pro-rata rule can make tax calculations tricky. You may benefit from consulting a tax professional to optimize the strategy. Funding Limits – You can only contribute up to $6,500 annually (or $7,500 for those 50+). Five-Year Rule – Withdrawals from converted funds may trigger penalties if made before five years have passed or before age 59½. The Backdoor Roth IRA isn't the only tool in your arsenal. Here are a few complementary strategies to optimize your retirement savings: Mega Backdoor Roth IRA – If your 401(k) plan allows for after-tax contributions, you may be eligible for a Mega Backdoor Roth strategy. Charitable Giving – Strategic donations can reduce your MAGI and improve your overall tax picture. The Backdoor Roth IRA is a game-changer for high-net-worth households seeking long-term, tax-free growth. When used thoughtfully, it opens doors to significant retirement benefits originally designed for middle-income earners. This story was produced by Range and reviewed and distributed by Stacker.
Miami Herald
27-05-2025
- Business
- Miami Herald
Understanding the backdoor Roth IRA—How it works and why you should consider it
Understanding the backdoor Roth IRA-How it works and why you should consider it Retirement planning can feel like solving a jigsaw puzzle, especially for high-income households. If you're earning too much to qualify for a Roth IRA directly, you might assume that the Roth IRA's powerful tax advantages are out of reach. Think again. The Backdoor Roth IRA is a legal and strategic way for high-earners to enjoy the benefits of a Roth IRA without income limits standing in the way. This guide from Range explores how a Backdoor Roth IRA works, why it's valuable for high-net-worth households, and the specific steps and tax implications involved. Backdoor Roth IRA Explained High-income earners can bypass Roth IRA income limits growth and withdrawals with no required minimum to a traditional IRA can be converted into Roth. What Is a Backdoor Roth IRA? A Backdoor Roth IRA isn't a special account-it's a tax strategy. It allows individuals who make too much to contribute directly to a Roth IRA to fund one indirectly. Here's how it works in simple terms: First, you contribute after-tax dollars to a traditional you convert that traditional IRA to a Roth IRA, enabling you to enjoy tax-free growth and tax-free withdrawals in retirement. It's an elegant workaround for those who want to take advantage of a Roth IRA's unique perks but are above the income eligibility limits. For high-income households, the Backdoor Roth IRA is more than a loophole-it's a strategic tax planning tool that comes with significant benefits for long-term wealth building. Here's why you should consider it: 1. Tax-Free Growth Once your money is in a Roth IRA, it grows completely tax-free. Unlike traditional IRAs where you'll eventually owe taxes on investment gains, a Roth lets your wealth grow and compound without interruption from taxes. 2. Tax-Free Withdrawals When you withdraw funds from a Roth IRA in retirement, you won't pay a penny in taxes on the contribution or the earnings (as long as you meet eligibility requirements). 3. No Required Minimum Distributions (RMDs) Unlike a traditional IRA, a Roth IRA does not require you to start withdrawing funds at age 73. This flexibility allows your retirement savings to grow for as long as you like-perfect if you're planning to pass wealth on to your heirs. 4. Access for High-Income Earners Normally, individuals with a modified adjusted gross income (MAGI) above a certain threshold cannot directly contribute to a Roth IRA. For 2025, the phase-out ranges are: Single filers: $150,000–$165,000Married filing jointly: $236,000–$246,000 With a Backdoor Roth IRA, these limits no longer apply. How Does a Backdoor Roth IRA Work? Here's a step-by-step breakdown of how to create a Backdoor Roth IRA. Step 1. Contribute to a Traditional IRA Start by contributing after-tax dollars to a traditional IRA. The IRS allows annual contributions of up to $7,000 (or $8,000 for those aged 50 or older in 2025). Since your contribution is made with after-tax money, it's nondeductible, meaning you won't get a tax break on the contribution. Step 2. Convert to a Roth IRA Next, convert your traditional IRA to a Roth IRA. Most financial institutions allow you to do this easily online or with a quick call to your advisor. The conversion moves your funds into the Roth account, where future earnings will grow tax-free. Step 3. Pay Taxes on Any Pre-Tax Balances If your traditional IRA contains pre-tax contributions or earnings, you'll owe income taxes during the conversion. These taxes are calculated based on the pro-rata rule, which we'll cover below. Special Note on Timing Many financial advisors suggest completing the conversion as soon as possible after the traditional IRA contribution. This minimizes any taxable earnings generated between the contribution and conversion. Pro-Tip for Tax Efficiency To minimize complexities, some high-income earners choose to maintain no other pre-tax IRA balances. Why? The pro-rata rule could make a portion of your conversion taxable. IRS Pro-Rata Rule Explained The pro-rata rule applies if you have pre-tax funds in any traditional IRA accounts. For example, if 75% of your total IRA balances are pre-tax, 75% of the conversion will be taxable. Example: Traditional IRA #1 (Pre-Tax): $18,000Traditional IRA #2 (After-Tax): $6,000Total IRA Balance: $24,000Conversion Amount (IRA #2): $6,000 Taxable Portion = 75% of $6,000 = $4,500 By avoiding pre-tax IRA balances via rollovers to 401(k)s, you simplify the Backdoor Roth strategy. Is a Backdoor Roth IRA Right for You? Here are some scenarios where a Backdoor Roth IRA may be a smart choice: You're a high-income earner: If your salary exceeds Roth contribution limits, a Backdoor Roth unlocks access to this tax-advantaged anticipate higher future tax rates: Roth IRAs allow you to "lock in" your current tax rate, potentially saving you money in want flexibility in retirement: With no RMDs, Roth IRAs let you manage your withdrawals on your terms. Watch Out for Potential Pitfalls While the Backdoor Roth IRA can be a powerful strategy, there are some challenges to be aware of: Tax Complexity – The pro-rata rule can make tax calculations tricky. You may benefit from consulting a tax professional to optimize the Limits – You can only contribute up to $6,500 annually (or $7,500 for those 50+).Five-Year Rule – Withdrawals from converted funds may trigger penalties if made before five years have passed or before age 59½. High-Income Strategies for Tax Planning The Backdoor Roth IRA isn't the only tool in your arsenal. Here are a few complementary strategies to optimize your retirement savings: Mega Backdoor Roth IRA – If your 401(k) plan allows for after-tax contributions, you may be eligible for a Mega Backdoor Roth Giving – Strategic donations can reduce your MAGI and improve your overall tax picture. Final Thoughts-A Smart Move for Wealth Building The Backdoor Roth IRA is a game-changer for high-net-worth households seeking long-term, tax-free growth. When used thoughtfully, it opens doors to significant retirement benefits originally designed for middle-income earners. This story was produced by Range and reviewed and distributed by Stacker. © Stacker Media, LLC.
