rothiras

List

Is Conversion from a Traditional IRA to a Roth IRA Right for You?

A large part of your existing IRA was from non-deductible contributions

You will not need to take distributions to live on after retirement

You do not plan on retiring for many years

You will not need to make non-qualifying distributions (such as for education)

You expect to be in a higher tax bracket when you retire than you are now

And, of course, you're AGI is under $100,000 for the conversion tax year

The Roth IRA is not right for everyone. For more information and analysis of your situation, contact the Roth IRA experts at Maxwell Shmerler & Co., Serving clients throughout the United States for 85 years.

With Offices in White Plains, N.Y., Central New Jersey and Southern Florida, the Tax Professionals at MS&Co. offer a complete range of tax planning, preparation and accounting services. For more information, click on the image below.

Should You Open A Roth IRA?

You are not eligible for a Regular IRA (active participant in employee sponsored plan and AGI exceeds limits)

You plan on investing in a Roth IRA for many years

Expected Tax Bracket at Retirement is Same or Greater than Current Tax Bracket

You will not need need the money until age 59 1/2 (with education and home purchase exceptions)

You want to continue contributing to an IRA after age 70 1/2

And, of course, you're AGI is under the eligibility limit ($160,000 for married filing jointly)

In general, the longer the period of time the Roth IRA is open, the greater the advantage over a regular IRA. To calculate the difference between a Roth and Regular IRA, click on the image below.

For Tax Planning and Preparation

Call Us At (914) 681-0400