Message Font: Serif | Sans-Serif
No. of Recommendations: 0
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.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.