AARP Retire Secure!. Pay Taxes Later—The Key to Making Your by James Lange

By James Lange

AARP electronic variations provide you with sensible assistance, confirmed suggestions, and professional advice.

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We have expanded our analysis of Roth IRA conversions and I would encourage all readers to read the new chapter on Roth IRA conversions. I believe that most IRA and retirement plan owners would benefit from developing and implementing a long-term Roth IRA conversion strategy and reading this book and Chapter 7 in particular, will help you determine an appropriate Roth IRA conversion strategy. Roth IRA conversions are favorable because long-term income tax-free growth on the Roth funds ultimately more than compensates for the taxes you have to pay on whatever amount of money you convert from your IRA or 401(k).

I have always said that the planning comes before the doing. ” —Garry D. Kinder, CLU, RFC Author, Lecturer, and Financial Industry Consultant The KBI Group “IRA and other retirement plan assets comprise a huge and growing component of so many people’s wealth, yet the growth of these important assets requires sound, practical, and, most important, understandable advice. , by James Lange. James brings to the fore practical information usable by both attorney and accountant on how to deal with these critical assets.

Notable exceptions include: 7. Roth IRAs and Roth 401(k)s (better than nonmatched 401(k) or 403(b) or traditional IRAs). (Chapters 2 and 3) 8. Roth IRA Conversions (often the best move, but violate the spirit of don’t pay taxes now—pay taxes later). (Chapter 7) 9. Distributions of IRA and retirement plan money at targeted income tax brackets. (Chapter 4) 10. In large estates, sometimes it does pay to withdraw money from IRAs prematurely to avoid the dreaded combination of estate tax and income tax on the IRA within the estate.

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