ROTH IRA 2010 LIMITS
Tuesday, July 14, 2009 at 3:35PM What's the BIG DEAL? Potentially Tax-Free Wealth for Life...
What do the year 2010 and the Roth IRA have to do with your financial future? It's a combination that could accelerate wealth creation by way of tax-free profits.
Many people have wanted a Roth IRA, but never met, or currently do not meet, the income limit guidelines.
However, the income limits required to convert a Roth IRA will be lifted in 2010. That's right: Roth IRA 2010 limits are changing! You can convert to a Roth IRA and take advantage of all the benefits (tax-free profits, no required distributions) the account has to offer.
If you have a non-Roth retirement account that you want to convert to a Roth IRA, 2010 may be the year that you can begin to seize upon the Roth IRA advantages that you've been hearing so much about.
If you do decide to take advantage of the Roth conversion rule in 2010, keep in mind that conversions from non-Roth accounts to Roth IRAs generally are taxable for the year in which the conversions are made.
The good news is that under the new 2010 IRS rule – for the year 2010 only – if you convert an existing retirement account to a Roth IRA, you can split the converted income amount between 2011 and 2012, which means that you would not pay any taxes in 2010 on the amount converted.
$$$ We can help you with IRA conversion questions! 866-990-9332 $$$
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