A little-noticed provision of a law signed by President Obama this week promises to boost the use of Roth accounts in workplace retirement plans. The Small Business Jobs Act really has very little to do with retirement saving-it’s aimed at boosting the economy by giving tax cuts and credits to small businesses. But those cuts [...] [...more]
Q: Your recent column on converting a traditional IRA to a Roth states that if you pay the conversion taxes out of the Roth IRA you just created, you’ll protect more of the assets remaining in your traditional IRA and the assets in our taxable account, but you’ll end up with less in your Roth. [...] [...more]
2010 is the year of the Roth IRA conversion. But is a Roth right for you? A change in federal law has eliminated income limits for eligibility to convert traditional tax-deferred retirement savings to Roths. As a result, mutual funds and financial advisers are marketing conversions this year with gusto. SilverPlanet.com is offering a free [...] [...more]
Q: My wife and I are both over 60 years old. We each made a $6,000 contribution to Roth IRA on April 1, 2009. We now realized that we are a little over the $176,000 maximum adjusted gross income limit (AGI) for tax year 2009 to qualify us to contribute to a Roth for 2009. [...] [...more]
2010 is the year of the Roth IRA conversion. But is a Roth right for you? A change in federal law has eliminated income limits for eligibility to convert traditional tax-deferred retirement savings to Roths. As a result, mutual funds and financial advisers are marketing conversions this year with gusto. Unlike a tax-deferred retirement account, [...] [...more]
