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38 W 32nd St. (Suite 400)
New York, NY 10001
New Jersey Office
33 Kershner Place
Fair Lawn NJ 07410
Donít forget about smaller clients
Of course, you and your next in line will be unable to visit every
customer, either because of location or the clientís importance to
your company. But donít neglect customers who place small or
infrequent orders. At the least, call each one. If you canít reach
your contacts, send them a personalized letter inviting them to call
you or your successor at their convenience.
Should you convert your traditional IRA to a Roth?
If you already have a traditional IRA, you may want to roll it over
into a Roth IRA. Why? You can convert tax-deferred future income
growth into tax-free growth.
IRA account holders who have more than a decade to save for their
golden years or expect to be in the same or a higher tax bracket
when they retire may benefit the most from this change. And those
planning on working well beyond the usual retirement age may want to
consider the rollover because, unlike with traditional IRAs, you can
make nondeductible Roth IRA contributions after age 70-1⁄2. But you
must have earned income equal to the contribution amount, and there
are certain income requirements and other contribution limits.
If you donít expect to need any of your IRA assets, a Roth IRA can
allow you to bequeath more to your heirs because youíre never
required to take distributions. Plus, the Roth IRA can continue to
grow tax-free in your loved onesí hands ó though they will be
required to take distributions.
To qualify for the rollover, if you are married, you and your spouse
must file jointly and your adjusted gross income must be less than
$100,000, not including the conversion amount. Although your income
may be too high for you to qualify now for a conversion, you might
be eligible after you retire when your income will probably
There are some disadvantages. For instance, you must pay tax ó as if
you are taking distributions ó on the amount you roll over during
the conversion year. Also, the increase in taxable income could
limit or eliminate tax breaks such as itemized deductions, education
deductions or credits, or other itemized benefits.
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