Roth IRA's for Everyone - Limited Time Offer

Posted by Andy
If you've wanted to open a Roth IRA because of the long term tax benefits but have been told no by the IRS because of your income levels, then there is a limited time opportunity for you. You can make a non-deductible traditional IRA contribution in 2009, and convert it to a Roth IRA in 2010. This is a back-door method that is available in 2010 only. You will owe tax on the growth in the traditional IRA when you make the conversion. The conversion of the original contribution amount ($5000) will be tax free since it was nondeductible to begin with. For more info, click here.
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