Roth 101: A Refresher Course
To refresh your knowledge of the Roth IRA, here is a basic explanation of its benefits and parameters.
The Roth IRA is available in a $2,000 contribution or Roth conversion, and the latter plan often brings about the most savings. However, to qualify for a Roth IRA conversion, income cannot exceed $100,000, and the rule applies whether single or married.
When you convert to a Roth IRA from a traditional IRA, tax only is paid on the amount converted. If the client has non-IRA money to pay the tax with, taxpayers are encouraged to convert the maximum amount. If the conversion tax is not paid right away, the long-term liability will be greater because any growth in the regular IRA will be taxed and withdrawals from that account must begin after the Required Beginning Date (RBD) - April 1 of the year after the taxpayer turns 70-1/2.
To qualify for the annual $2,000 per person Roth contribution ($4,000 if married, filing jointly), the taxpayer must have at least that much in earned income, and income cannot exceed the phase-out range - $95,000 to $110,000 of income for singles, and $150,000 to $160,000 if married, filing jointly.
Roth contributions are not tax deductible, but once the account is held for five years and the age of 59 1/2 is reached, all withdrawals are tax free forever for the taxpayer and any beneficiaries.
To find out if a Roth is right for you or your clients, check out the Roth calculators  at AccountingWEB.