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Gradient Tax Brochure 2011 : Page 6

Roth Conversion In recent, Roth IRA conversions have garnered the attention of national media and investors, alike. But, why is everyone talking BCPVUDPOWFSTJPOT 1SJPSUP
&#0d;POMZUBYQBZFSTXIPTFNPEJmFE adjusted gross income was under $100,000 were allowed to convert a traditional IRA to a Roth IRA. Beginning in 2010, all taxpayers—regardless of income level or tax-filing status—have the opportunity to convert any or all of the funds from a traditional IRA to a Roth IRA with absolutely no limit on the amount that can be converted. With tax-free earnings and distributions, a Roth IRA is a great way to prepare for a tax-free retirement. While you will have to pay taxes on the amount you convert, paying taxes now could be offset by significant gains later. Switching your traditional IRA to a Roth IRA means you pay no tax on the distributions in future years. Let our team of CPAs and tax professionals analyze your qualified plan holdings and help to answer the all-important question “Is B 3PUI DPOWFSTJPO SJHIU GPS NF w 8F XJMM XBML ZPV UISPVHI UIF process, assuring you the conversion is done correctly and done in the most cost-effective manner possible to help ensure your financial future. There are many advantages to converting to a Roth IRA: t5BY&#0e;GSFFRVBMJmFEEJTUSJCVUJPOT t5BY&#0e;GSFFHSPXUIPGFBSOJOHT t&MJNJOBUFVODFSUBJOUZBCPVUGVUVSFUBYSBUFT t-PXFSUBYFTPXFEPOSFUJSFNFOUCFOFmUTMJLF4PDJBM4FDVSJUZ t/PNJOJNVNEJTUSJCVUJPOSFRVJSFNFOUT t1SPWJEFBHSFBUFSmOBODJBMMFHBDZUPZPVSIFJST Until the growth in popularity of the Roth retirement plan, most people accumulated wealth by depositing money in a “before tax” retirement vehicle where the money would grow tax deferred. While the tax advantages on this type of account are attractive, Mistakes are common and may cause serious estate planning issues that leave your beneficiaries facing enormous tax burdens. These mistakes may result in loss of the stretch capability, probate, unintentional but required distributions, immediate taxable distributions, unintended beneficiaries, and overlooked income tax deductions. To avoid these mistakes and maximize benefits, let our team of CPAs and tax professionals help you avoid costly and often emotional IRA and legacy planning mistakes. Beneficiary Review The availability and popularity of retirement plans have caused most to hold a majority of wealth in the form of retirement accounts or life insurance. Despite a more financially educated public, many people do not understand how retirement assets are passed upon death, and rely on wills to control how all their assets pass. Upon death, loved ones are stricken to find retirement assets pass outside of the will and to the beneficiaries named in a beneficiary designation form. “Mistakes made when designating beneficiaries can be equally costly and even tragic because they impair the ability ... to protect, preserve, and pass on assets to their heirs,” according to a recent *OWFTUNFOU/FXT BSUJDMF&#0d; iBCPVU  PG CFOFmDJBSZ GPSNT y BSF either blank, outdated or not properly filled in.” The most common mistakes made are accounts left to deceased individuals and ex-spouses. It is imperative to update beneficiary forms following major life events, such as births, marriages, deaths and divorces. Key benefits to a beneficiary review: t&OTVSFZPVSBTTFUTBSFBQQSPQSJBUFMZEFTJHOBUFE t1SPWJEFBHSFBUFSmOBODJBMMFHBDZUPZPVSIFJSTUISPVHI advanced planning concepts, like Stretch IRAs t1BTTBTTFUTUBYFGmDJFOUMZ t"WPJEUIFFNPUJPOBM&#0d;FYQFOTJWFBOEQVCMJDMFHBM  process of probate IRA and Legacy Planning Personal legacy planning is a thorough assessment of your values and financial goals to ensure your wealth is preserved, appropriately transferred, and realized by future generations. Your legacy plan reflects a lifetime of effort and provides peace, security, and pride in knowing your values and wealth will be passed on to your children and grandchildren. Your loved ones will also have clarity and inspiration in knowing your heritage will be preserved for generations. FORD ACQUIRED BRITISH SPORTS CAR MAKER ASTON MARTIN IN 1989 BUT SOLD IT ON THIS DAY, RETAINING A SMALL MINORITY STAKE. FORD HAS ALSO OWNED CAR MANUFACTURERS: VOLVO, MERCURY, LINCOLN AND MORE. 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

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