Dennis Re: "Rollover"
I'm not a tax expert, but as others have posted, 1st there are income qualifications before going to the Roth IRA in'98; 2nd, you must pay the 28% rate for 4 years; the value of that money must be brought in to the calculation when you 1st start to withdraw 10, 20 or however many years from now. Remember from my friends in the tax fields, defer, defer, defer when it comes to paying dear Uncle Sam. Also, I think we all should remember that tax laws change, esp. if the R's take over in '2000. Right now nobody can believe we'll ever get to a flatter tax or , perish the thought, a Consumption tax; But if some of these come to pass, even partially, who knows how the IRA withdrawals might be treated. Just some food for thought.
Go INTC, 140 by the Spring (Tribute to Margaret)
Regards, Royco |
