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Financial Planning > Tax Planning

Take the complications out of IRA strategies

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If we told you Garry Madaline of United Retirement Advisors Group can make “taxes less taxing,” would you listen to him? Who wouldn’t?

“A taxable event is something every member of the investing public wants to avoid yet we’re on the verge of one of the greatest tax breaks of all time,” says Madaline. “Isn’t it about time you got involved?

Most Roth IRAs will essentially be larger than their regular IRA counterparts, even if each has the same dollar amount. This is because the Roth IRA is fueled with after-tax dollars. With a regular or traditional IRA, a portion of the earnings will be taxed, but in a Roth IRA a client can keep the whole amount. And a bigger IRA means less tax and happier clients.”

The big news
“In the year 2010 everyone can convert their traditional IRAs to a Roth IRA,” he explains. “That’s big news. You’ll see not only why it’s big news but you’ll also see how you can use this opportunity to help your clients and grow your customer base.”

Clients prefer the Roth because of the “control factor,” notes Madaline, as it has more benefits and features than the Traditional IRA. But now this very good retirement planning vehicle is getting even better.

Starting in 2010, taxpayers with modified adjusted gross income over $100,000 will be allowed to convert a traditional IRA to a Roth IRA for one year only–2010. Better yet, the income tax due from this conversion can be spread across two years. So the 2010 conversion amount may be included as taxable income in 2011 and 2012, helping to lessen the tax liability.

Putting this news to work
It’s one thing to know the news, it’s something else to market it and use it as a business-building block. Traditionally, many investors have avoided making non-deductible IRA contributions because they are not tax deductible, the investment growth is fully taxable, and they are subject to minimum distribution rules. But with the forthcoming 2010 Roth IRA conversion many of the so-called “disadvantages” will no longer apply.

Madaline’s SMAX presentation will reveal seminar secrets that get prospects in the room and clients in your office. A seasoned financial advisor, Madaline will tell you how to be a “hero” at accountant-only seminars by explaining how to take advantage of the upcoming Roth news and build your practice at the same time.

“Success in this business is all about giving value, providing service and imparting cutting-edge knowledge,” says Madaline. “The advisor who can do this will rule the day.”

Register today for Senior Market Advisor Expo 2009 and don’t miss Garry Madaline’s session, “Take the Complications Out of IRA Strategies,” at 2:45-3:45 p.m., Tuesday, Aug. 25!


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