Roth conversions in 2021 could save you 18% in federal taxes or MORE if the government decides to increase taxes in the future. Roth conversions are the act of converting a Traditional IRA into a Roth IRA. You can convert freely however much you want; however, you must pay the tax on the money that you are converting into a Roth. Paying taxes on the money now at historically low tax rates can potentially save you a ton when you will be forced to pay the taxes later in retirement. By waiting, you are deferring the tax payment but also the tax calculation! This may be your last chance to save on taxes before you start taking income in retirement.
- For access to any of the resources mentioned in this video, schedule a 15-minute resource discovery call TODAY and you will qualify for a 30-day FREE TRIAL of our Financial Independence Membership Program: https://advancedsavings.lpages.co/30-day-free-trial-copy/
- Employers who would like to make these resources available to their employees, check out our sponsorship program: https://www.theafigroup.com/for-employers