With the economic turmoil, Obama’s plan to raise taxes is being put on the back burner as he focuses his team on “fixing” this economy (we’re going from the weird to the bizarre here). Read the story here:
For those of you who read me often, you know what I’m thinking – possibly enough of a reprieve to get past the 2010 elimination of the income cap for Roth IRA conversions. As I have stated before, with all these bailouts and pumping of cash in the economy, the taxpayer will have a nasty bill in the future. Those of you under 50 are particularly in trouble. And if you haven’t started a Roth yet (for those who qualify) you should seriously consider it. Talk with a tax advisor about this.