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Currently, if your AGI is less than $100,000 annually you are eligible to convert your regular IRA to a Roth IRA.

Unfortunately, for a married couple with dual incomes, making 105K, you can’t convert to a Roth IRA because you make too much money. You’re barely crossing the eligibility threshold and it just doesn’t seem fair. That’s an especially hard pill to swallow.

As I’ve written before that’s all changing in 2010 when the 100K AGI restriction is lifted. Gone. Goodbye. In the meantime, there are still a couple things you can do now to get ready…

Continue Reading “The Secret to Funding a Roth IRA, regardless of your income!”

I am a huge advocate of the Roth IRA… I believe if you can afford to convert an existing IRA to a Roth then you should have done it yesterday.

A bit of a refresher here, monies in both accounts grows tax deferred and when its time to take it out:

• the traditional IRA is fully taxed
• the Roth IRA monies are 100% TAX FREE

Some taxpayers are currently not eligible to convert a traditional IRA to a Roth IRA but those rules are changing in the very near future.

Lets take a closer look…

Continue Reading “Interested in the Equivalent of a Tax Free Loan in 2010?”