Roth Conversion

These Trump years may be the lowest tax rates we will ever see. Democrat proposals could skyrocket income tax both directly and indirectly. Covering hundreds of thousands, maybe millions more illegal immigrants suddenly getting free health care, social security, Medicare for all could have a staggering cost to hard working taxpayers. Cortez is pushing free everything for everyone, eliminating all gas/oil burning cars and trucks, tear down all buildings to re-build as “Green” and “Medicare for All” could double our income-tax rates. The top Democrat on the Senate Finance Committee, Ron Wyden, is reviving a plan that would tax wealthy individuals annually on their investments, instead of when those assets are sold.

Why not take advantage of low tax rates now, while we have them. Consider converting your highly taxed IRA/401k to a Roth IRA? It may cost you less than drawing income as an IRA and could save your heirs inheritance tax.

Fair Market Valuation Roth Conversions. IRS Rule 59-60 requires that certain assets be “valued” at death and Roth Conversion. Certain assets (which you may already own) may be valued at 30% to 90% less than your investment statement shows. Converting using this required tax-code can save you thousands, maybe hundreds of thousands in unnecessary income taxes.