if your investing in a mutual fund for the long run, and dont plan on making any withdrawals for 10 years, do you still have to pay taxes on your profits yearly, or only when you withdraw it in 10 years?

If that mutual fund is held within your IRA account, most likely you will not pay taxes on it until you withdraw the funds. However, there may be certain situations in which there will be taxes due - I hear horror stories from financial advisors - which are taken out of the fund itsself and passed onto the account holders.

If held in a ROTH IRA, you may encounter the special tax situation as well.

If you hold the mutual fund outside of a tax-deferred account, you will pay taxes on the growth every year.

Remember, it is possible to lose value in a mutual fund in a year and still end up paying taxes.

Seek the advice of a truly experienced broker to help you pick a mutual fund that will meet your objectives.