Reply to 1%ers: What are you doing with your $$ before Dec 31?

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[quote=Anonymous]I weighed in way back as a fellow 1%'r.  To clarify, while I didn't find OP's lead Q problematic, when she told us of the $350k tax check she'd be writing..well, that was classless.

Further, no one would do a 1 million Roth conversion without multiple conversations with advisors.  So my guess here is that it's DH's money and advisors, and the OP is along for the ride and doesn't know how to acquit herself in a conversation about money.

To other questions around this--
1. Yes, anyone can convert an IRA to a roth and pay taxes now.  It's horrible tax policy but i don't make the rules.
2. the benefits of so doing likely accrue to the next generation (trust me on this)
3. yes there's an estate planning opportunity to push substantial monies down a generation which may expire by year end.  if you have enough to care you have enough to call your atty.
4. the various suggestions to harvest cap gains now at 15% work best if it's a stock you've been wanting to sell anyway or if a concentrated position, otherwise you're letting the tax tail wag the dog, rarely a good practice.

I do hope we get a finance forum.  I hope it's hospitable to those who have some money (ie: leaving the politics at the door.) [/quote]

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