IRA to Roth Conversion

Hi, I'm Pete Losavio, board-certified tax attorney and CPA, to talk to you about two reasons why now may be the best time to do a Roth conversion.

First, doing a Roth conversion when the market is down results in a smaller tax bill because your account is worth less. Second, tax rates are at a historically low rate and are lower than they will be in the future. The federal tax rate will be higher because of the national debt, the current deficit, the cost of social security and medicare, and the two trillion dollar bailout. 

For many taxpayers now, it might be the best time in history to do a Roth conversion, however, advance planning will save you even more tax dollars. You should consult with a tax expert to make sure a Roth conversion is best for you and to get the optimum strategy for conversion to Roth. Furthermore, some taxpayers, there is a potential downside.

For further information and assistance, please contact me at (225)769-4200.