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IRA to Roth
This year, for many people, Roth conversions are a bright spot amid the grim financial and political news confronting us every day. As of Jan. 1, 2010, traditional IRAs can be converted to the tax-slashing power of ROTH IRAs irrespective of a person’s income.

Unlike Traditional IRAs, ROTH IRAs provide tax-free growth and income. ROTH IRAs may also provide:
- the opportunity to reduce the taxation of Social Security benefits
- more flexibility in managing your tax bill
- the ability to build large emergency reserves
- create very powerful wealth transfer opportunities

Converting to a ROTH IRA does not require you to pay an extra tax. It simply requires that you pay a tax you already owe. In 2010 only, this tax can be paid in equal installments in 2011 and 2012. The taxes on your Traditional IRA will inevitably come due in the future if you don’t pay them now. The accrued tax liability, or what you owe Uncle Sam, could be lower in the future but only if your income tax rates are reduced in the future.

Should you convert to a ROTH IRA? Are you interested in protecting your precious retirement dollars from the potential increases in future tax rates? Would you like to remove your IRA partner, Uncle Sam, from your retirement plan? What benefits would you derive by conversion and under what circumstances would converting be a costly mistake?

For a no-cost phone consultation or a complimentary DVD called “Retain Your Gains”, feel free to call me at (239) 455-0027 or fill out this form.

John M. Carlson provides professional financial planning to include: Guaranteed Income Riders, Fixed Index Annuities, Tax-Free Income, Tax-Deferred Growth and Retirement Income Planning

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