How To Pass Your Assets To Your Kids 100% Tax Free  

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created by kianhl 2009-09-14 01:52:43 pm

Tip Sheet

Yes, you pay income taxes on the amount of the IRA for the year you convert to a Roth. That's what lets you to have it non-taxable forever. But if you convert before tax rates go up (they WILL go up), your tax bill is smaller and only a one-time charge.

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submitted by kianhl 2009-09-18 12:02:50 pm    


In 2010, you can convert your IRA to a Roth IRA regardless of income. With a Roth IRA, your withdrawals (plus gains) are tax-free and they aren't mandatory. Convert under 2010 taxes quick before tax rates go up. And have a tax-free retirement forever.

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submitted by kianhl 2009-09-14 01:52:43 pm    

We will have to pay the taxes on our Regular IRA to convert it to a Roth IRA now won't we?

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submitted by Rick Imby 2009-09-14 03:24:11 pm    

One way to pass your wealth to your children is to make gifts to them while you are living. Most gifts passed to the child at least seven years before death are exempt from tax

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submitted by Teatree 2013-11-17 11:22:59 am    

You can spread out the full tax payments through the 2012 tax year. You do not need to pay it off immediately. This is like taking a tax-free loan. You can also pay the tax bill out of your other money and not necessarily from your your IRA.

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submitted by kianhl 2009-11-01 11:25:23 am    

What do you know about that?


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