2009′s estate tax rate was 45%, and…
the 2009′s highest income tax rate was 35%, so:
If your estate was larger than the 2009 exemption amount of $3.5 million you may have been able to save 10% in estate taxes by converting to a Roth IRA.
If you’re a 401(k) plan owner, be sure to…
…review your 401(k) plan(s), because some will allow distributions while you are still employed.
You can convert a distribution directly from a 401(k) into a Roth IRA, be sure not to overlook this option.
If you have any questions, comments or concerns about Roth IRA’s, or think I can help you in any other ways, contact me, or give me a call at (239) 384-9688.
- Mark
———-
This information is based on facts, assumptions and representations as stated and authorities that are subject to change. We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.
LEGAL NOTICE AND DISCLAIMER: The information within this post is for informational and educational purposes only and is not tax advice and should not be used as such. The facts of each individual situation can have significantly different outcomes when applying tax law. The hiring of a CPA is an important decision not to be based solely on advertisements.
Having options is the key to making the right decision at the right time.
Creating “Roth assets” today, by conversion or yearly contributions, will provide you options in retirement.
I just received this update this morning, and this begins to clarify the 2010 Estate Tax…
Be sure to check out the full article on the Wall Street Journal!
If you have any questions, feel free to contact me, call me at (239) 384-9688, or visit my web site at: www.Makara-Assoc.com.
