A New Look at Roth IRAs

Louis A. Mezzullo (attorney, Rancho Santa Fe, CA) recently published his article entitled Roth IRAs:  Time for a New Look, 36 ACTEC L.J. 317 (Fall 2010).  The introduction is below:

Roth IRAs have been around since l998, but have been off limits to wealthy individuals because of the income limits on who could contribute to a Roth IRA and who could convert a traditional IRA to Roth IRA. With the income limit removed on Roth Conversions after 2009, every individual with a traditional IRA or who participates in any other eligible account plan will need to consider doing a Roth Conversion. This article discusses the rules that apply to Roth Conversions, the tax consequences of doing a Roth Conversion, the taxation of distributions from a Roth IRA, and who may or may not benefit from a Roth Conversion.