Crucial Tax Topics 2021-2022 with Art Werner - Converting to a Roth IRA
Tax rates appear to be on the most certain long-term increase. Tax planning’s main objective is keeping tax rates at their lowest possible level through time. The time is exactly right now to accomplish this. There’s a window today to convert from a traditional IRA to a Roth – and it’s closing very soon.
In this course, you’ll learn exactly how to prevent increasing tax rates (and other proposed changes) from seriously battering the value of a retirement nest egg.
A Roth conversion is an intensely personal decision that requires impeccable attention to a client’s specifics. We’ll establish for you the Roth conversion thinking process and all things to consider.
Basic Course Information
Learning Objectives
- Learn all about Converting to a Roth IRA
Major Subjects
- The Roth conversion evaluation process
- Impact of (likely to pass) proposed legislation on IRAs
- Exploring how the SECURE Act’s 10 year rule decimates most estate plans
- Most IRA trusts don’t work anymore – Roths to the rescue
- Benefits and pitfalls of a Roth conversion
- Projecting income tax on conversions – The many impacts of the game
- Extraordinary Roth IRA estate planning/estate tax advantages now and later
- The beauty of no income tax at retirement (will I run out of money?)
- How to avoid paying too much tax on a Roth conversion
- The permanent nature of a Roth conversion (the hard TCJA hand slap)
- IRA conversion myths to promptly dispose of
- Know that you know when to move your checker on the board