• Elimination of Income Limits for Conversion to Roth IRAs in 2010
  • December 21, 2009
  • Law Firm: Harter Secrest & Emery LLP - Rochester Office
  • Roth IRAs are an attractive alternative to "traditional IRAs"...Until recently, the limits on the creation of a Roth IRA or the conversion of a traditional IRA to a Roth have meant that many taxpayers have been unable to take advantage of a Roth. With the beginning of the 2010 tax year, the income limits on a conversion have been eliminated. Many clients will be interested in exploring a conversion. We would like to offer some background as you consider the possibility of a conversion.