Pittsburgh, PA (PRWEB) May 18, 2006
James Lange, CPA/Attorney, says taxpayers with an AGI greater than $100,000 need to know about the New “Open Season” for Roth IRA conversions that is provided for in the new tax law.
Respected Roth IRA expert Lange says:
“The new tax law is HUGE for taxpayers making more than $100,000 who have an IRA. The long term benefit to your family of making a Roth IRA conversion can be estimated by multiplying the current value of your IRA by 15.”
Wednesday, May 17, 2006, President Bush signed a major tax bill that presents wealthy Americans with an outstanding lifetime opportunity. The Tax Increase Prevention and Reconciliation Act (TIPRA) will lift the $100,000 AGI ceiling on Roth IRA conversions for tax years after 2009. In 2010, wealthy Americans will, for the first time, qualify for Roth IRA conversions.
“Let’s look at a scenario: a taxpayer makes more than $100,000 and he has a $500,000 IRA. If he converts his IRA to a Roth IRA, in 20 years he will be better off by $250,000 and in 60 years his children will be better off by $7,500,000.”
James Lange, CPA/Attorney.
Americans will make bad decisions based on advice from well-intentioned but sadly mistaken financial professionals who haven’t “run the numbers” on Roth IRA conversions. Taxpayers need the best advice from a true expert who understands the intricacies of the Roth IRA conversion from a quantitative, tax and legal perspective. Lange says that Americans need to hear the right story.
Lange has been quoted 20 times in The Wall Street Journal. His book, Retire Secure! (Wiley, 9/2006) has been endorsed by Charles Schwab, Larry King, Ed Slott, Roger Ibbotson, and 70 other financial authors and planners. Jim's web site http://www.rothira-advisor.com has 25,000,000 hits. Jim’s articles covering Roth IRA conversions have appeared in the peer-reviewed AICPA journal as well as other top journals. Book Jim for your show today or schedule an interview. Media trained, Jim is engaging, informative and knowledgeable, and he will provide your viewers, readers, or listeners with valuable and timely advice. For further information please call Cynthia Nelson at 1-800-387-1129.