David kicks off the conversation by revealing that tax rates will revert to where they were in 2017 – you have only four years to take advantage of the historically low tax rates and do a Roth conversion. David explains that most people will try…
The Roth Conversion Mistake That Could Sink Your Retirement Read More »
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Converting an employer plan account or Traditional IRA to a Roth IRA is a taxable event. Increased taxable income from the Roth IRA conversion may have several consequences including but not limited to, a need for additional tax withholding or estimated tax payments, the loss of certain tax deductions and credits, and higher taxes on Social Security benefits and higher Medicare premiums. Be sure to consult with a qualified tax advisor before making any decisions regarding your IRA.
