Whether to convert an IRA to a Roth IRA involves many factors. In many cases, it is difficult to know with certainty what is the best course of action. The following are some factors that may aid in this decision.
You should consider converting to a Roth IRA if the following apply to your situation:
You should probably not convert your IRA in the following situations:
The above are just some of the issues to consider here. In addition, you should meet with a tax attorney or your tax accountant to run various income, cash flow and tax projections to determine with more certainty which option to consider.
Steve is an excellent attorney who has provided help for my family personally for business, tax, and other services for many years. He is extremely knowledgeable and thorough, and is extremely good at explaining legal concepts to me in clear terms understandable to a non-attorney. It is difficult to pick only three attributes above, since Steve’s work meets most if not all of the attributes above.
Jonathan Weiss
1420 Walnut Street Suite 300
Philadelphia, PA 19102
Telephone: 215-735-2336
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From their offices in Philadelphia, PA, the law firm of Steven J. Fromm & Associates, P.C. provides a full range of estate planning, probate and estate administration, tax, business and corporate legal services to clients throughout eastern Pennsylvania and the Delaware Valley, the Lehigh Valley Area, the Five-County Area, Bucks County, Delaware County, Montgomery County, Chester County, Philadelphia County, Berks County, Lehigh County, Lancaster County, York County, Harrisburg, Norristown, Doylestown, Media, West Chester, Allentown, Lancaster, and Reading.