Big changes have taken effect in 2010 for people who want to convert Traditional IRAs to Roth IRAs. Effective January 1, 2010, you can:
· Convert regardless of your income or tax-filing status
· Postpone the tax due on the conversion by splitting the taxable income evenly in 2011 and 2012 (2010 conversions only)
The following includes answers to several questions about Roth IRAs and Roth IRA conversions. Please consult your Willow Creek financial advisor or your tax professional to see if a Roth conversion might make sense for you.