Ed Slott and Company have been in the news preaching the benefits of a discussion about Roth conversions before year-end. All consumers should sit down with their financial advisors to discuss the benefits of a conversion.
Ed Slott was quoted in a recent article that appeared in the Philadelphia, Inquirer, St. Louis Post-Dispatch and on the websites on MSN Money and CNBC. The article, titled, "Rush to Roths for tax rates, 2010-only benefit" discussed the issue of a larger rhetorical question:
"Why pay taxes before you absolutely have to? Because you may pay significantly more if you wait."
Slott is quoted as saying: "Anyone with a significant balance in an IRA should at least evaluate a Roth conversion before the year ends."
CLICK HERE to read the entire article.
Also, MarketWatch's Robert Powell sought the guidance of IRA Technical Consultant Beverly DeVeny in an article titled, "Attend to IRA chores before it is too late."
The article goes point-by-point through an important year-end checklist. At the top of the list? Make sure to take required minimum distribution.
DeVeny is quoted as saying: "Look at all owned IRA accounts and employer plans for individuals age 70 1/2 or older this year, as well as inherited IRAs, employer plans and Roth IRAs."
CLICK HERE to read the entire article.
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*Copyright 2010 Ed Slott and Company, LLC
Thursday, October 14, 2010
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