The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/tmftaxes-writes-ltltbut-im-just-not-a-big-10328961.aspx

Subject:  Re: Roth and Traditional Ira Date:  9/19/1998  1:17 AM
Author:  shess Number:  5396 of 121219

TMFTaxes writes:
<<But I'm just not a big proponent of paying real tax dollars today, for the hope and promise that I'll get tax free dollars in the future.>>

I'm suspecting I might be in the exception area. My wife and I don't plan to convert our IRAs, and earn too much to make tax-free regular IRA contributions. So, we're looking at opening Roth IRAs.

I understand that with conversions, if you later determine that your taxable income is too high, you can back them out. How about for _new_ contributions? We're close enough to the earning limits for Roth IRA contributions that if we were to receive good bonuses, it could push us over the top. Initially, I figured we could just punt and contribute once the year was behind us, but the recent stock market declines have me rethinking that option.

Later,
scott

Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us