Bellevue, Wash. (PRWEB) December 29, 2009
With 2010 just days away, millions of taxpayers will soon be able to do something new with their retirement savings. Compliments of Congress and the IRS, starting in 2010 anyone with a taxable Individual Retirement Account (IRA) can convert to a tax-free Roth IRA regardless of their income. Before then, a taxpayer with an income over $100,000 could not convert their taxable IRA. CFP® Steve Juetten’s new eBook entitled Between a Rock and a Hard Place: Making the Right 2010 Roth IRA Conversion Decision for You demystifies the rules so high-income earners can make the best choices.
Consumers are very interested in this topic. A Google search on the 2010 Roth IRA Conversion topic delivers over seven million results. Juetten wrote this new eBook to help consumers make wise choices. “Unlike a technical journal written by an accountant, this eBook offers straight talk consumers can understand. A better informed consumer will be better equipped to talk with a tax adviser and efficiently arrive at the best choices for him or her,” Juetten says.
“The opportunity to change a taxable retirement account into a tax-free retirement account is too good to pass up without at least thinking hard about it,” Juetten maintains. “Plus, if you do the conversion in 2010, you can delay taxes on the conversion until you pay your 2011 and 2012 income taxes.”
According to 2010 Roth IRA conversion expert Juetten, there are at least three reasons a consumer would want to convert a taxable IRA and pay taxes on it now versus later:
There are some challenges to doing a 2010 Roth conversion too, Juetten says. “You have to come up with the cash to pay the tax man sooner. Your income tax rate could be lower when you retire so if you convert now you might end up paying more in taxes than if you had waited. And, the money has to stay in your Roth account for at least five years, or you’ll pay a 10% penalty on it for an early withdrawal.”
Reviews of Juetten’s new eBook are positive. For example, Bill Berry from Kirkland, Washington writes:
“Between a Rock and a Hard Place should be required reading for anyone with an IRA or 401(k) or any other similar plan that is even entertaining the thought of converting to a Roth IRA.”
Is a 2010 Roth IRA conversion a good decision for you? Juetten says, “It depends. It comes down to three things: your goals, having the cash available to pay the tax bill that comes from converting to a Roth IRA, and understanding your tax situation.” Visit http://www.2010RothConversions.com to learn more about the eBook and buy.
About CFP® Steve Juetten
Steve Juetten is the founder of Juetten Personal Financial Planning LLC . He is an author, a fee-only financial planner, and 2010 Roth IRA conversion expert. Steve helps people make smart money decisions so they can do more of what they love. Encouraging people to take advantage of the 2010 conversion opportunity with his new eBook entitled Between a Rock and a Hard Place: Making the Right 2010 Roth IRA Conversion Decision for You continues this pledge. Juetten will provide review copies of the eBook to reporters, editors and qualified bloggers. He welcomes requests for radio and television interviews. Call 425-373-9393 or send requests by email to Steve (at) finpath (dot) com.