Here are several considerations including possible impacts on future taxes for individuals considering a Roth conversion.
There may be planning opportunities to mitigate the taxes associated with a Roth conversion.
Most provisions of the TCJA will expire in 2025 but taxpayers still have time to plan ahead for potential higher taxes.
Year-end is an opportune time to review retirement savings plans and determine if any adjustments are needed.
SECURE Act regulations, the SALT deduction, and Roth IRA strategies were among the leading tax topics raised by financial advisors at a recent webcast.
Wealth management professionals offer a tax outlook and discuss tax smart strategies under the Biden era.
With the possibility of future higher tax rates, investors may want to consider strategies that can be implemented now such as a Roth IRA conversion.