A lower-income year can sometimes open the door to tax planning you wouldn’t consider in a typical year. A Roth conversion lets you intentionally recognize some retirement income now, when the tax cost may be more manageable, in exchange for tax-free qualified withdrawals later. The key is knowing when the timing—and the numbers—make sense.

Receiving an inheritance can raise a lot of questions, especially when it comes to taxes. This article explains what inherited assets are taxable, what isn't, why documenting date-of-death values matters, and the key planning decisions that can help protect your financial future.