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...ROTH ROLLOVER SAVES TAXES...
Disney studio chief Joe Roth insists he isn't bugged by the DreamWorks strategy. "I think Antz will come out and do fine, and I think Bug's Life will come out and do fine," he says. But Disney and Pixar apparently are not speaking with one voice on this topic. In fact, Jobs has irked his Disney partners by speaking to reporters without consulting them. Roth has asked Jobs to tone down his anti-DreamWorks rhetoric, without much luck. Jobs declines to comment...
Ironically, Disney's toughest competition may not come from Antz. The studio is pushing A Bug's Life back from Nov. 20 to Nov. 25--not, according to Roth, to move another week away from Antz but to avoid going mano a mano with Paramount's Rugrats, the movie version of the popular children's TV show, which opens Nov. 20 and is expected to be a powerful contender in the intense holiday family-entertainment race. But that move to Nov. 25 puts A Bug's Life in direct competition with Universal's sequel to the popular pig movie, Babe...
Start with estate planning. By converting an old IRA to a Roth, you must pay some immediate tax, but you do not have to start withdrawing money after age 70 1/2, as with an old IRA. So you can let it keep growing tax free as long as you live. It might even pay for your heirs to pick up the tax bill on the conversion, if they can afford it and you can't. The savings are that dramatic over long periods of time...
Saving for a first home? As long as you've held a Roth for five years, you can withdraw as much as $10,000 penalty free and tax free at any age to make such a purchase. Early withdrawal is permitted for education too, but the investment gains are taxed. Still, if you are an older parent or a grandparent, you can use Roth withdrawals to pay for college, and it does not diminish your ability to make gifts of up to $10,000 per person per year...