Comments on: Save Money With These Important Year-End Tax Planning Strategies For Small Businesses and Individuals http://www.taxresolution.com/blog/save-money-with-these-important-year-end-tax-planning-strategies-for-small-businesses-and-individuals/ Your Complete IRS Tax Resolution Resource Fri, 13 Jan 2012 21:15:47 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Jeff Day http://www.taxresolution.com/blog/save-money-with-these-important-year-end-tax-planning-strategies-for-small-businesses-and-individuals/comment-page-1/#comment-1516 Jeff Day Fri, 12 Dec 2008 13:45:19 +0000 http://www.taxresolution.com/blog/?p=368#comment-1516 I have several clients that are converting Traditional IRA's intro Roth IRA's while the market was taking a beating. Even have one client converting $10K to Roth IRA in December, 2008. Then in January/February 2009 going to take a distribution from Traditional IRA as a 2009 distribution, then making the same amount as a contribution into the Traditional IRA for 2008, thus eradicating the taxability of the conversion until he files 2009 tax return, when he anticipates his income to be lower than 2008. Jeff Day EA Evansville, In I have several clients that are converting Traditional IRA’s intro Roth IRA’s while the market was taking a beating. Even have one client converting $10K to Roth IRA in December, 2008. Then in January/February 2009 going to take a distribution from Traditional IRA as a 2009 distribution, then making the same amount as a contribution into the Traditional IRA for 2008, thus eradicating the taxability of the conversion until he files 2009 tax return, when he anticipates his income to be lower than 2008.

Jeff Day EA
Evansville, In

]]> By: » Save Money and Reduce Your IRS Bill With Simple Year-End Tax Tips » Tax Relief Tips from the Experts at Tax Resolution University » Blog Archive http://www.taxresolution.com/blog/save-money-with-these-important-year-end-tax-planning-strategies-for-small-businesses-and-individuals/comment-page-1/#comment-1515 » Save Money and Reduce Your IRS Bill With Simple Year-End Tax Tips » Tax Relief Tips from the Experts at Tax Resolution University » Blog Archive Thu, 11 Dec 2008 18:18:48 +0000 http://www.taxresolution.com/blog/?p=368#comment-1515 [...] recently blogged about the things taxpayers can do before December 31, 2008 to reduce the tax bill due on April 15, [...] [...] recently blogged about the things taxpayers can do before December 31, 2008 to reduce the tax bill due on April 15, [...]

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