Read the book “ Roth IRA: Exploding the Myths, to Convert or not in 2009/2010,” and write a 500 word essay that describes, "What you have learned from the book that will make a positive change in your life and what that change will be.”
One winner will win $1,000 from the author to invest into a Roth IRA or use toward college education.
Who should convert IRA to Roth IRA in 2009 or 2010?
There will be a rush for some people to convert their IRA’s into Roth IRA’s in 2010, because the IRS is allowing those with Income (AGI) of over $100,000 to convert in 2010 since they have not been able do that so far. The big question is: Should you convert or not? In order to get to the right answer, you need to know whether it makes sense for you to continue with a tax deferred IRA or convert in 2010 and pay the income taxes then, therefore allowing the earnings to grow tax-free from that point forward.
CPA and author of the book John Azodi believes that there will be those who should not convert but will. However, some who should convert will not. Thus the book, “Roth IRA: Exploding the Myths; to convert or not in 2009/2010.”