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Tax Season Countdown Tax Tips: Tip #5 Take a Different Path to a Roth IRA

 

 

As a NJ CPA firm and and NY CPA  firm, we are dedicated with providing you the latest tax tips this season.

Our tax tip for today is:

If your income exceeds certain levels, you cannot make contributions to a Roth IRA. However, you can convert a traditional IRA to a Roth IRA no matter how high your income. Roth IRAs are popular because qualifying distributions are tax-free, and annual distributions are not required at age 70½. For details on this option, call us.

For assistance with this or other tax or accounting matters please contact us at 201-947-8081 or 646-688-2807, or email us at info@bergencountycpa.com.

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