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Roth Conversions

Prior to 2010, the income limits on both kinds of IRAs have prevented higher income taxpayers like you from making deductible contributions to traditional IRAs, or a contribution to a Roth IRA. Although you could make nondeductible contributions to a traditional IRA, the tax benefits were limited (i.e., no current deduction, the tax on the […]

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Exchange an Old Annuity or Life Insurance for Long-Term Care Insurance

A new law makes the purchase of products that combine annuities or insurance policies with long-term care insurance more attractive. As ElderLawAnswers previously reported, these “hybrid” products are gaining in popularity due to a law that went into effect January 1, 2010, making distributions from life insurance and annuities tax-free when used to pay for […]

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