Reported about 1 year ago
Converting traditional retirement accounts to a Roth IRA can be beneficial for long-term tax savings, but comes with a significant upfront tax bill. While you can't avoid conversion taxes, you can minimize the impact by staggering conversions, managing tax brackets, offsetting capital gains losses, timing conversions to market downturns, and considering income triggers for various programs. Consulting a financial advisor can help personalize a strategy to reduce taxes on a Roth IRA conversion.
Source: YAHOO