In 2010, previously ineligible taxpayers will qualify to convert traditional IRA funds to Roths. And, the resulting tax can be spread over two years. However, there are always traps and landmines in the tax code and this process is easy to mismanage. If you have traditional IRAs, get professional advice about whether it is advantageous for you over the long run to convert in 2010 and, if so, how.
The time is now to strategically plan to stop wasting money on taxes you are not required to pay. Most changes need to be in place by December 31 to reduce your current year taxes, and sooner implementation results in greater savings, so act now!
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