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Investing Specialists

Top Tips for Tax Savings

Readers advocate for gradual Roth conversions, careful asset location, and scrupulous record-keeping.

Mentioned:

We're kicking off a Tax-Wise Investing Week on Morningstar.com in the week ahead, and we'll be providing many tips on how to reduce the drag of taxes on your investments. In anticipation of our tax-themed week, I recently asked Morningstar.com readers to chime in with their best tax-savings tip, investment-related or otherwise.

Readers shared a host of worthwhile ideas, including gradual conversions from traditional IRAs to Roths, careful management of income and deductions to avoid falling into a higher tax bracket, and cherry-picking tax-efficient investments for taxable accounts.

Christine Benz does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.