Rule Changes Will Provide Broader Access to Roth IRAs
The income limits on Roth IRAs will change in 2010.
Current restrictions on Roth IRAs are set at $105,000 for singles and $166,000 for couples.
Removal of these restrictions will open-up a much wider market for Roth IRAs.
Higher income earners will simply need to establish a conventional IRA and then convert to a Roth. Taxes due on the conversion can be paid over the course of 2011 and 2012 rather than at once in 2010.
Source: Investment News
