For those interested in converting their traditional IRA into a ROTH, the clock of opportunity is ticking. The 2010 benefits of converting your IRA account are ending shortly and the following is a great article by Eric Wikstrom describing the process.
One of the more powerful financial and wealth transfer planning opportunities available today is the ability to convert a traditional IRA into a Roth IRA and, in doing so, convert future taxable income into future tax-free income. Although income tax must be paid on the converted amount, the payment of this initial tax liability can result in significant future tax savings.
An IRA Owners Guide to Understanding Roth IRA Conversions PDF