In this video as part of The Motley Fool's "Ask a Fool" series, the lead advisor to The Motley Fool's Rule Your Retirement service, Robert Brokamp, takes a question from a Fool reader, who asks, "What are the rules, laws and regulations whereby a first-time home buyer can take a distribution from a Roth IRA to fund a home purchase? And what are the tax implications involved?"
Tax increases that took effect at the beginning of 2013 affected nearly every American taxpayer. But with the right planning, you can take steps to take control of your taxes and potentially even lower your tax bill. In our brand-new special report "How You Can Fight Back Against Higher Taxes," The Motley Fool's tax experts run through what to watch out for in doing your tax planning this year. With its concrete advice on how to cut taxes for decades to come, you won't want to miss out. Click here to get your copy today -- it's absolutely free.