But Congress Could Provide the Wild Card. Roth accounts can be attractive, especially when viewed through the lens of our national debt and the possibility (probability?) of higher taxes in the future to fund that debt.
There may be times when a Roth conversion may be advantageous; but there are others when it may not be your best move.
A Roth conversion for some IRA assets may provide more tax savings than you realize.
Required minimum distributions (RMDs) have been eliminated for 2020 due to the COVID-19 pandemic; but, you just might want to consider taking a distribution anyway. Why?
As you may or may not know, the Tax Cuts and Jobs Act is due to expire at the end of next year – just 16 months from now. The Biden Administration has proposed new tax increases worth knowing about.
If you are one of those asking the ‘will my money last’ question, there’s a way you can find out just what your probabilities are!
