After weeks of wrangling over the details, both the Senate and the House passed a bill that will extend the tax rates in 
effect in 2010 for another two years. President Obama signed the 2010 Tax Relief Act into law on December 17, 2010. (more…)
Posts Tagged ‘income taxpayers’
The Big 2010 Question: To Roth or Not?
For the first time ever, high-income taxpayers are eligible to convert a traditional IRA to a Roth IRA. Prior to 2010, you could not convert to a Roth in a year in which your modified adjusted gross income exceeded $100,000. (more…)
Two Prior IRA Rules Are Still In Effect for 2010
Rule #1. Note that while converting a traditional IRA to a Roth IRA is now open to everyone, regardless of income, contributing to a Roth IRA is still not allowed for higher-income taxpayers. (more…)
