2010 may be a great time to consider converting your regular IRA to a Roth IRA.  The income limitations have been abolished and you may also elect to pay the tax in 2010 or report the taxable amount over two years in 2011 & 2012.  However, be sure to remember that as of today, the current tax rates expire at the the end of 2010 which means a significant tax increase in subsequent years.  There’s also a good deal of speculation that there may be additional increases due to the current deficit- producing programs.

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