Converting Your Traditional IRA to a Roth IRA

Facts About Traditional IRAs & Roth IRAs

Post author:admin
Post published: June 20, 2016
Post category:Back-Door IRAs Converting Your Traditional IRA to a Roth IRA
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Pitfall to Back-Door IRAs

If you are saving for retirement, many individuals favor Roth IRAs over traditional IRAs because the former allows for both accumulation and post-retirement distributions to be tax-free. In comparison, contributions to traditional IRAs may be deductible, earnings are tax-deferred and distributions are generally taxable. Anyone who is under age 70.5 and who has compensation can make a contribution to a traditional IRA (although the deduction may be limited). (more…)

Thinking about Converting Your Traditional IRA to a Roth IRA?

Post author:admin
Post published: January 17, 2016
Post category:Accounting advice Converting Your Traditional IRA to a Roth IRA
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Take a look at the Pros & Con of Roth Conversions

The tax provision that allows taxpayers to convert a Traditional IRA to a Roth IRA is a great tax-planning tool when used properly, and timing is everything. Conversions can be tricky, so if you are considering a conversion, take a look at this article regarding conversion considerations or give our office a call and set up an appointment so we can help you properly analyze your conversion options. (more…)