Pathfinder Worksheet: Should I Consider a Roth Conversion?
As you are reviewing and submitting your 2022 tax return, considering potential strategies for your 2023 tax game plan may be a prudent thing to do. One strategy to consider would be a Roth Conversion. Having Roth IRA dollars to utilize during retirement can be valuable, but the immediate tax consequences of converting are not to be overlooked.
The flow chart below will help you navigate some key decision points when contemplating a Roth Conversion. Normally, your financial situation will change year over year, which is why it is important to converse with your tax professional and financial advisor each year to help make the right decision. If you have questions or would like to discuss this topic further, please do not hesitate to contact your QA advisor. If you’re new to QA, please click here to connect with us.
JACOB HERD, CFP®
Associate Wealth Management Advisor
QA Wealth Management is an independent financial services firm and uses a variety of different investment strategies. This is prepared for informational purposes only. It does not address specific investment objectives, or the financial situation and the particular needs of any person who may receive this report.
This document has been prepared by fpPathfinder LLC and is furnished to you by QA Wealth Management, a division of Quantitative Advantage, LLC (QA), under license from fpPathfinder. While QA believes that the information in the document provided by fpPathfinder is reliable, QA does not guarantee that the information is accurate, complete, or current, and is not responsible for any loss caused or alleged to be caused directly or indirectly by the information.
QA and its wealth management advisors do not provide legal, accounting or tax advice. Our advisors have general knowledge of certain matters included in this information, but individual situations may require the advice of licensed legal, accounting and tax professionals.
For more information about QA, its investment programs, fees, and the risks associated with the investments which QA may make or recommend, please review QA’s Form ADV disclosure brochure, which is available at www.QAwealthmanagement.com.
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