Roth Conversions can be done after 2010, but at what cost? The 2010 expiration date on Roth conversions is quickly approaching which means that beginning January 1, 2011, the best opportunities to reduce the tax on a Roth conversion may be behind us.
Over the past ten years the federal debt has mushroomed from $5 trillion to well over $13 trillion, and is forecasted to reach $20 trillion in this decade. But wait, it gets worseâ€¦private debt (consumer, financial, corporate) has swelled to $42 trillion!
If the federal government’s deficit could be closed by increasing taxes, how much of an increase would be necessary? This article clearly illustrates the degree to which our government is spending money compared to what it is bringing in.