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@Joshua – Thanks for bringing up this article. Unfortunately, quite a few of the people who could benefit most from this knowledge are still unaware of the impending changes, so the more people tout this the better!
The impact of the 2010 Roth IRA conversion rule change can NOT be understated. While income limits will remain in effect for Roth IRA contributions, the income limit on Roth IRA conversions is eliminated, and that effectively eliminates the income restrictions on contributing to a Roth IRA.
Since anyone, regardless of income, can make non-tax deductible contributions to a Traditional IRA, it opens the door for anyone to contribute to a Roth IRA. If you make too much to contribute to a Roth, simply max out your non-tax deductible Traditional IRA and then convert it to a Roth IRA. It’s really that simple!
Hopefully, as knowledge of the change spreads, more and more people will take advantage.
@Joshua – Thanks for bringing up this article. Unfortunately, quite a few of the people who could benefit most from this knowledge are still unaware of the impending changes, so the more people tout this the better!
The impact of the 2010 Roth IRA conversion rule change can NOT be understated. While income limits will remain in effect for Roth IRA contributions, the income limit on Roth IRA conversions is eliminated, and that effectively eliminates the income restrictions on contributing to a Roth IRA.
Since anyone, regardless of income, can make non-tax deductible contributions to a Traditional IRA, it opens the door for anyone to contribute to a Roth IRA. If you make too much to contribute to a Roth, simply max out your non-tax deductible Traditional IRA and then convert it to a Roth IRA. It’s really that simple!
Hopefully, as knowledge of the change spreads, more and more people will take advantage.
@Joshua – Thanks for bringing up this article. Unfortunately, quite a few of the people who could benefit most from this knowledge are still unaware of the impending changes, so the more people tout this the better!
The impact of the 2010 Roth IRA conversion rule change can NOT be understated. While income limits will remain in effect for Roth IRA contributions, the income limit on Roth IRA conversions is eliminated, and that effectively eliminates the income restrictions on contributing to a Roth IRA.
Since anyone, regardless of income, can make non-tax deductible contributions to a Traditional IRA, it opens the door for anyone to contribute to a Roth IRA. If you make too much to contribute to a Roth, simply max out your non-tax deductible Traditional IRA and then convert it to a Roth IRA. It’s really that simple!
Hopefully, as knowledge of the change spreads, more and more people will take advantage.
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