1.Starting Jan. 1, 2010 anyone is able to convert to a Roth IRA regardless of their income or tax-filing status.  (the income limit was $100,000)
    2.Taxes can be spread over two years. You may elect to pay all of your taxes in 2010 or spread across 2011 and 2012.
Reasons why you may consider a Roth conversion
    1.Roth IRAs provide tax-free distributions of earnings.
    2.If you believe that income tax rates will be higher when you retire than they are now, converting may result in paying taxes at lower rates.
    3.Roth IRAs are not subject to Required Minimum Distributions at age 70 1/2.
    4.Converted amounts can be distributed without penalty after 5 years.
 
Please call Kimber DeLoia, Financial Advisor with Wells Fargo Advisors to determine whether a Roth IRA would be right for you.
phone: 303-628-8994