Financial Planning

In this article I will discuss several of the factors to consider when deciding whether to make a Roth IRA conversion.
While the rules promulgated in the American Taxpayer Relief Act of 2012 were stated in the law, the application of those rules is becoming clearer as we have time to dissect them. This article is of timely importance if you were thinking of contributing an IRA distribution to charity in 2012 or 2013.
Not to let us down, our esteemed Senators and Congressmen came to an agreement to solve the so-called “fiscal cliff.” The tax act known as the American Taxpayer Relief Act of 2012 does a lot for taxes, a little for the sequestration, and changes several health care rules.
The road map to retirement contains five paths: government benefits, company benefits, tax-deferred savings, tax-free savings, and taxable savings. Each path has different tax consequences, different rules on putting money in, and different rules on getting money out.

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