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.
Roth IRA’s allow for a two (2) generation tax-free stretch on distributions.
Meaning distributions for you and your beneficiaries are tax-free.
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
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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.
No matter how many IRAs you own…
the IRS views them as one pool of assets for tax purposes.
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.
Did you know?
You are not required to convert your traditional IRA(s), SEP(s) and SIMPLE(s) into one Roth IRA.
Cash flow management is the #1 key to any successful business.
This is part 1 in my 7 part series “7 Things Every Small Business Owner Needs To Know”. You can download this entire series in my eBook on my web site – www.Makara-Assoc.com.
In today’s environment of small margins, tight credit and monthly bills coming due, it seems like every two weeks, the availability of “cash” is at a premium.
Hi!
I’m Mark Makara, founder and owner of Makara & Associates here in beautiful Southwest Florida, and am proud to announce my new blog – Cash Flow Planning for Life.
Cash Flow Planning For Life is all about assuring you’ve got a plan for your personal & professional financial strategies, and that you get the results you’re looking for!
My business, Makara & Associates, specializes in:
Be sure to visit my web site at: www.makara-assoc.com to learn more.
Please feel free to participate on my blog by leaving a comment, or contacting me directly!
Thank you,
Mark
