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[[I think its too late, or maybe wasn't even possible,
to reduce our income to meet the $100,000 cap so that
we can "rollover" our regular IRAs to ROTH IRAs.
My wife and I earned about $135,000 this year. But is
there a way to defer the income or reduce it via contributions to other retirement funds, so that we
can reduce the reported income legally to under
$100,000? ]]

You may be too late this year, but there may always be next year. Some things to consider...

1. Defer salary and bonuses if at all possible
2. Convert taxabie interest to tax exempt interest if you have a large portfolio of mutual funds that annually "throw off" income. But be careful of the gains that you might incurr if you sell the funds.
3. Pay off debts to reduce your taxable income from your investments
4. Increase contributions to your employer 401k, SIMPLE, SEP plans
5. Increase contributions to your employer flexible spending plans

These are just a few suggestions...and while they may reduce your AGI, there may be other pitfalls. So don't just jump in willy nilly.

You can also get some additional suggestions at the Fairmark tax site (

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