News

In keeping with our firm-wide goals of personal and professional development, Bennett Thrasher participated in the Chick-fil-A Leadercast on May 7, 2010. Started in 2000, the Leadercast is the brainchild of John C. Maxwell who sought to give individuals and organizations the chance to gather in their own communities, build relationships with each other and grow as leaders.

The 2010 edition of the Leadercast allowed more than 120 BT associates the opportunity to hear from some of the world's top leaders, including Jim Collins, John C. Maxwell, Ben Carson, Steve Uzzell, and Connie Podesta.  Each speaker covered a variety of topics based on career, passion and life experience.  Overall, everyone who attended the Leadercast said they truly enjoyed it and look forward to participating in similar events in the future.

The Roth IRA was created in 1997 to serve as a retirement savings alternative to the traditional IRA. While contributions to a Roth IRA are made with after‐tax dollars, qualified distributions from the account are free of income tax. Since inception, contributions to Roth IRA’s have been subject to a Modified Adjusted Gross Income (MAGI) limitation. This limitation precluded many wealthy taxpayers from enjoying the benefits of the Roth IRA. Additionally, the conversion of a traditional IRA or other qualified retirement plan to a Roth IRA account has been prohibited for taxpayers with MAGI above $100,000. However, effective January 1, 2010, a new door of opportunity has been opened for all taxpayers interested in taking advantage of the Roth IRA. While the MAGI limitation for contributions to a Roth IRA remains in effect, the $100,000 MAGI limitation for conversions has been repealed. Converting to a Roth IRA will not make sense for everyone, but this new legislation creates an opportunity that should be explored because of the potential retirement, income tax, and estate planning benefits that it creates.