Advanta IRA Holds National Webinar: Why and When to Convert to a Roth IRA

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The Roth IRA is a popular retirement plan that allows investors to make post-tax contributions, accrue tax-free earnings, and take tax-free distributions. Advanta IRA is hosting this webinar on December 2 to explain the qualifications of these plans, why investors may want to consider converting their funds from other accounts, and how to do so to gain the benefits these accounts offer.

Advanta IRA, Roth IRA
’When and why should I convert retirement funds into a Roth IRA?’ is a commonly asked question by our clients and others interested in self-directing their accounts.

Investors with funds in a traditional IRA, SIMPLE, SEP, or 401(k) retirement plan can move the funds in those accounts into a Roth IRA through a process called a conversion. Many clients of Advanta IRA have performed this transaction to receive the benefits this plan has to offer. Although a conversion is taxed to the account owner personally as ordinary income in the year the conversion is made, moving forward, the account grows tax-free.

The tax-free growth of income in a Roth account, along with tax-free distributions, is highly attractive to investors. However, not everyone is eligible for this type of retirement plan. There are also requirements one must meet in order to take full advantage of the potential this account structure offers.

“’When and why should I convert retirement funds into a Roth IRA?’ is a commonly asked question by our clients and others interested in self-directing their accounts,” says Jack Callahan, managing partner of Advanta IRA Services in Florida and Advanta IRA Administration in Georgia. “We are holding this webinar to discuss the reasons for conversions, as well as the fact that these accounts can be self-directed—allowing owners greater control over their investment funds and decisions.”

Self-directed IRAs allow account owners the freedom to choose their own assets—from a very large pool of alternative investments. Common assets permissible within these accounts include real estate, private notes and mortgages, precious metals, stocks, bonds, foreign exchange trading, oil and gas options, and much more.
Combine the enormous number of assets available with the added benefit of tax-free growth and one can easily see why a self-directed Roth plan is highly attractive among savvy investors.

There rules that apply regarding eligibility, age, and income, which are important in determining if conversions to a Roth account are the right choice for the investor. Advanta IRA’s webinar on December 2 covers the pros and cons, as well as other topics:

  •     The conversion process
  •     Eligibility, contribution, and distribution rules
  •     When a conversion should occur
  •     Converting assets in a self-directed IRA (such as notes and mortgages)
  •     Documentation needed to convert these assets

Most individuals visit their tax preparer in January and February and miss the opportunity to convert funds into a Roth IRA—another reason self-directed account administrator is holding this event—so interested and eligible parties have time to perform conversions.

Investors of all levels are encouraged to attend this webinar. This event is also a designated Advanta IRA University course for those interested in becoming a self-directed IRA specialist.

Event: Webinar – Why and When to Convert to a Roth IRA
Date: December 2, 2014
Time: 12:00 – 1:00 pm EST
Location: Online
Cost: No charge
Register: No later than 5:00 pm EST on December 1, 2014, by contacting Larissa Greene by phone at (800) 425-0653 x 1140, or by emailing lgreene(at)advantairagroup(dot)com.

About Advanta IRA

Advanta IRA Services, located in Largo, Florida, has been in operation for over 10 years, providing administrative service to owners of self-directed IRAs throughout the Tampa Bay and Sarasota, Florida regions. Advanta IRA Administration offers a second location serving the Atlanta, Georgia area and surrounding regions. Both offices are managed by Jack Callahan, J.D., CFP™. Advanta IRA offers classes, seminars and other educational tools designed to assist clients in managing self-directed IRAs by investing in real estate, notes, private placements and other non-traditional assets that have the potential to maximize IRA earnings on a tax-free or tax-deferred basis.

About Jack Callahan

Jack M. Callahan, J.D., CFP™, is the managing partner at Advanta IRA Services in Largo, FL and Advanta IRA Administration in Atlanta, GA. Jack established the corporate office, Advanta IRA Services, in 2003. Prior to that, Jack delivered specialized counsel to real estate investors, small business owners and real estate professionals on tax, legal and financial matters. As an industry expert, Jack is a frequent speaker on the topic of self-directed retirement plans and an accredited continuing education instructor for the Florida and Georgia Bar Associations, Florida and Georgia Real Estate Commissions, and The American Institute of Certified Public Accountants. He earned his bachelor of science degree in finance and multinational business from Florida State University and his law degree from the University of Florida College of Law.

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