Roth Conversions Gone Wrong: Avoid This Hidden Tax Penalty
🟢 Schedule a call with Jake → https://ycoeirfbu0u.typeform.com/to/q... 🟢 More about Spark Wealth Advisors: https://www.sparkwealthadvisors.com/ Thinking about doing a Roth conversion this year? Roth IRAs are one of the most powerful retirement tools available — but if you don’t plan correctly, you could get hit with an IRS underpayment penalty even if you pay your taxes in full by December 31st. In this video, Jake Skelhorn, CFP® and founder of Spark Wealth Advisors, walks you through: ✅ What a Roth conversion is and why it’s such a powerful strategy ✅ How the IRS treats Roth conversions ✅ Why paying taxes from a brokerage account is often the smartest move ✅ The pitfall of year-end conversions (and why the IRS assumes income is earned evenly throughout the year) ✅ The 3 ways to avoid underpayment penalties Whether you’re planning your first Roth conversion or looking to optimize your retirement strategy, this video gives you the step-by-step approach to do it the smart way. #investing #retirementplanning #rothconversion #taxpenalty #Taxplanning Timeline: 0:00 Intro 0:45 Roth conversion basics 1:40 Underpayment penalties 2:02 Ways to pay the taxes 2:30 Examples 3:00 The Catch 3:24 Solutions 4:40 The 60-day rollover trick 5:38 Checklist ⚠️DISCLAIMERS⚠️ This content is educational and not tax, legal, or investment advice Past performance is no guarantee of future results. Investing risks include loss of principal and fluctuating value. There is no guarantee an investment strategy will be successful. -------------------------------- ABOUT US: Spark Wealth Advisors is a registered investment advisor in the state of Florida. We are fee-only, independent, and fiduciaries at all times. We are a gay-owned financial planning and investment management firm located in Jacksonville, FL serving clients nationwide. Not all of our clients identify as LGBTQ+ but they are allies, a non-negotiable for working with us. We look forward to meeting you soon! https://www.sparkwealthadvisors.com/a...
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