Strategies for coping with latest changes in tax law
TwinCities Sunday 13th March, 2011
The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that President Barack Obama signed into law last year might not make for great bedtime reading. But that doesn't mean you shouldn't examine some of the retirement-planning opportunities contained in what's known as the 2010 Tax Relief Act. Here's a recap of what experts suggest you might do. Take the two-year deal on Roth IRA conversion: The Bush-era tax cuts — as most astute taxpayers know — have been extended through 2012. The rates for 2011 and 2012 will remain the same, but the brackets themselves are slightly higher due to the built-in inflation adjustments, according to Ed Slott, CPA, who edits a newsletter on IRA savings. "One key group of people who benefit substantially from the exten...
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