Please validate my thought here.
When transferring money from a traditional IRA to a ROTH you have a choice to pay taxes on the income up front or at year end. Now, I think that you would be crazy to pay taxes up front when you can keep that money and draw more interest on it thus reducing your tax debt.
Is this thinking correct and is there any other secrets to share when contemplating this move.
Thanks
When transferring money from a traditional IRA to a ROTH you have a choice to pay taxes on the income up front or at year end. Now, I think that you would be crazy to pay taxes up front when you can keep that money and draw more interest on it thus reducing your tax debt.
Is this thinking correct and is there any other secrets to share when contemplating this move.
Thanks