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Time is Running Out on Converting Your IRA to a Roth IRA

Time is Running Out on Converting Your IRA to a Roth IRA

Hey, Jon Perry here. I know many people have shopping on the brain with the holidays upon us. But I got something to lay on your noggin that will put money in your pocket, unlike the shopping. Did you know that for 2010 only, the government is allowing you to convert your traditional IRA to a Roth IRA? For some reason, this monumental shift has practically gone unnoticed by many and if YOU miss it, this could cost you tens of thousands in your later years. I felt it was important enough as it is our goal as a company at Property Placement LLC to provide key information and opportunities to help people build wealth and pay less taxes in the new economy.

Why should you convert from Traditional IRA to a Roth IRA?

• Unlike traditional IRA, distributions are TAX-FREE.

• No minimum distributions required at age 70 1/2.

• Heirs can inherit Roth IRA proceeds TAX-FREE.

• Lowers taxes for families subject to estate or inheritance taxes.

How does the conversion from Traditional IRA to Roth IRA work?

• Contact your IRA company and ask for conversion forms to Roth IRA.

• Get the form back ASAP as it may take some time to complete the conversion which must take place by December 31, 2010. Do NOT Miss this due date!!!

• You have 2 years to pay the taxes on the conversion instead of 1 year to spread out the costs.

At Property Placement LLC, Your success IS Our success. Contact us to learn how to maximize your IRA by investing in undervalued, cash flowing real estate.

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About the Author

Jon Perry, PA Wealth Builders LLC
601 52nd Street
Pittsburgh, PA 15201

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