Tax Considerations of Converting to a ROTH IRA - John R. Dundon II, Enrolled Agent
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Tax Considerations of Converting to a ROTH IRA

Tax Considerations of Converting to a ROTH IRA

1. The tax bite is too big.
2. Retirement is too close.
3. Savings are too concentrated in one place.
4. Tax brackets often change in retirement.
5. The income can change your tax bracket now.

If an investor is receiving Social Security benefits, the spike in income could force them to pay taxes on their Social Security money. It also could interfere with efforts to receive financial aid for children’s college tuition. And if you are going through a divorce, the additional income could affect the settlement.

John R. Dundon, EA – 720-234-1177

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