White House discussed on The Money Hour Radio

Automatic TRANSCRIPT

End up being more advantageous at that time for them you know for those that have money in traditional ira's it also can make sense to take a portion each year and converted to a roth ira and there's a little strategy in that unit can we call those sometimes tax bracket roth conversions and even though you have to pay taxes on that money when you do the conversion going into a roth the benefit is that the money would grow and come out tax free for future needs and that's why these current low tax rates under the new tax reform legislation create a golden opportunity to do roth ira conversions because you can pay the tax on the conversion using very low tax rates that are unlikely the stay down there if we get a the wrong administration in the white house and if income come taxes do go up again in the future you will have paid less in taxes than you otherwise would have under a possible future higher brackets.

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