Insurance Agent Forum

[adell50]

Does anyone have any additional insight on how to use an annuity as the vehicle for transfer of funds from a regular IRA to a ROTH IRA in 2010, based upon the benefits congress will provide the client??

These articles may shed light on the subject...

Hedging Regulatory and Tax Risk through a Roth IRA Conversion | Annuity Digest

Income Limits for Roth IRA Conversions to be Eliminated | Annuity Digest

Any insight in greatly appreciated!

Onward and upward!

[Mr. Bill]

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[padthaiforlunch]

They have a traditional ira....say $50,000 and they want to convert it to a roth.

They can do that today, so long as their income is under a certain level (approx. $100k).

Since a roth grows tax-free, and distributions are tax-free, the initial money has been taxed.

Now the traditional ira was funded with pre-tax dollars and the money is taxed as it is removed.

If they switch today, they will have to pay taxes on the $50,000.

If they wait until 2010, they will have two years to pay the tax bill.

[jmhopkins40]

Originally Posted by adell50

Does anyone have any additional insight on how to use an annuity as the vehicle for transfer of funds from a regular IRA to a ROTH IRA in 2010, based upon the benefits congress will provide the client??

These articles may shed light on the subject...

Hedging Regulatory and Tax Risk through a Roth IRA Conversion | Annuity Digest

Income Limits for Roth IRA Conversions to be Eliminated | Annuity Digest

Any insight in greatly appreciated!

Onward and upward!

Funny you should ask this now. Just finished up in Vegas with Ed for the past 2 days and this and so many other hot areas were covered...Wish i could go into it all for you now but go see Ed for yourself...The training was worth a million...Go to his site!

[adell50]

Ed is the man!! I had not heard of that resource before, so thank you very much. I believe I will do a post highlighting his education on my insurance continuing education blog

Thanks again!