Congress passed a law a few years ago that temporarily lowered tax rates across the board for most individuals.  With these laws set to expire after 2025, you might be wondering: is now a good time to convert my traditional IRA to a Roth IRA?

It might be, but you should be aware of the consequences of adding extra income to your tax return.  While tax rates might be favorable right now, if you decide you want to convert a large sum -- that is, extend yourself up another bracket or two -- you may be subjecting yourself to more than just extra taxation on that conversion.

What should you be aware of if you decide to convert to a Roth?  Get more information from podcast host Johnny Dean and "Professor" Rick Plum, CFP® on this week's episode of Managing Your Financial Future!