Sexton Advisory Group Discusses 5 Things to Know When Considering a ROTH IRA Conversion

With the current administration discussing possible tax increases, many Americans may be looking into ROTH IRA conversions as an option to possibly minimize taxes. Steve Sexton, financial consultant and CEO of Sexton Advisory Group in San Diego, California, is sharing the upsides, the downsides, and the top tips to know for those considering converting an IRA into a ROTH IRA.
Above all, Sexton recommends speaking with a trusted CPA to truly understand the taxable impact of a ROTH conversion. “There are many advantages to converting your IRA to a ROTH. However, there are also a few key pitfalls and trapdoors, so it is essential you work with a financial professional who can help navigate these complicated waters,” advises Sexton.
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Source: Sexton Advisory Group