2010 IRA News!!!

Beginning January 1, 2010, individuals with modified adjusted gross income exceeding $100,000 will be able to convert all or some of their IRA into a Roth IRA. In 2010, taxpayers have a one-time opportunity to split the income equally into 2011 and 2012 thereby spreading out the tax owed.

Eligibility, however, does not automatically make it a good idea. One size doesn’t fit all so be sure to consider your current and future tax brackets, non-deductible basis in your IRA, cash flow needs, estate intentions, and whether you can pay the tax due from outside sources, among other things.

For more Info. contact Rodney Gilbert (404)729-6485 or email at rtgilbert@ft.newyorklife.com