Hello, thank you for this opportunity.
Here are my questions:
1. This year is the first year that I have contributed to a Roth account, can you please in laymen's terms break down what I can expect to see annually when I file my taxes. For reference, I claim one dependent, not-married. Any other relevant information regarding roth tax breaks is welcomed.
a. Will having a Roth effect (even in a small way) my tax return/refund that I typically receive?
b. Can you please break down any tax information relating to having a Roth account so I can know how this all works?
2. My second question relates to political and charitable donations.
a. Is there a limit to how much I can donate in either case and if so, how much?
b. Does donating to these entities help me in terms of either, lowering how much I owe or to increase tax refund?
Thank you in advance!!
