ROTH CONVERSIONS: Planning Opportunities Available Until April 18, 2011

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Beginning in 2010, all taxpayers were allowed to utilize a previously restricted tax planning tool – the Roth Conversion. A Roth Conversion is a conversion of a traditional IRA or qualified plan to a Roth IRA. Under the current rules, a taxpayer may now have a Roth IRA regardless of his or her income.

IRAs can provide significant income tax benefits. Put simply, a traditional IRA provides tax deferred growth for the funds inside the account, and a Roth IRA provides tax free growth for the funds inside the account.

However, the amount that can be contributed to an IRA each year is limited. For 2010, your total contributions to IRAs (whether traditional or Roth) generally cannot exceed $5,000 per person(effectively no more than $10,000 per couple). Further, the amount that may be contributed to a Roth IRA can be reduced or eliminateddepending upon your modified adjusted gross income.

The following are two planning opportunities available to you until April 18, 2011, with respect to Roth IRAs and the 2010 year...

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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