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2010 Hot Topic: Roth IRA Conversions Whitepaper

One of the most important decisions impacting future retirement is whether to convert a traditional IRA to a Roth IRA. Due to recent tax law changes, you can convert an IRA into a Roth in 2010 regardless of your income level.
Furthermore, if you make the conversion in 2010, you have the option of reporting half of the converted amount as income in 2011 and the other half in 2012, which means you actually may not need to pay the taxes until April 15, 2012 and April 15, 2013. This election must be made on your 2010 return.

Learn more about Roth IRAs and conversion strategies in an extensive whitepaper, offered to MACPA members by Attorney and CPA Leon LeBreque. CEO of financial planning firm LJPR in Troy, LaBrecque is a presenter for MACPA continuing education programs.

Download ROTH IRAs in 2010 – Roth Conversion Strategies: Income and Estate Planning Ramifications.

 


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