When you combine the tax advantage of a Roth IRA with a self-directed account with Security Trust Company you have a truly unique investing opportunity
Hagerstown, MD (PRWEB) August 17, 2009
Security Trust Company, a self-directed IRA administrator, announces August webinar to discuss the benefits of the upcoming 2010 ROTH IRA conversions.
Many know that a Roth IRA account has some significant tax advantages over other types of retirement accounts. For example, if an individual qualifies to contribute to a Roth IRA their contributions are after-tax dollars, and, when they begin taking qualified distributions those distributions are not taxable. Basically the Roth account earns tax-free. In addition, individuals aren't required to take minimum distributions when they reach age 70½ like a Traditional IRA. The only problem is that not everyone qualifies for a Roth account since there are income limitations on those who can contribute to them.
That will change in 2010! The Pension Protection Act signed in 2006 opens the door for more individuals to convert retirement funds to Roth funds by lifting the income limitation. For those who were previously ineligible to convert to a Roth account this is great news. The requirement still exists to pay taxes on the amount converted, however, that tax payment can be spread over two years.
"When you combine the tax advantage of a Roth IRA with a self-directed account with Security Trust Company you have a truly unique investing opportunity," says Mick Hersh, Chief Operating Officer for Security Trust. The educational webinar hosted by Security Trust Company and Ted Reeder, CPA and President of Tiger's Eye Benefits Consulting, will be held Wednesday, 8/19, at 7:00pm EDT, and will allow attendees to learn more about the 2010 Roth conversions.