I did all my conversion planning with our tax CPA, but usually after I had done quite a bit of research. 2024 and 2025 are possibly the last years to do large conversions with the current low tax brackets. Our CPA set us up with all the necessary estimated tax amounts and payment coupons for each. Not sure if your taxes are a priority with a financial advisor.

Any traditional to Roth conversion will likely generate taxable income federally and state, if applicable. Depending on the size of the conversions, payment for the income taxes needed to be planned for. This can be done by increasing your work withholding and/or paying estimated taxes. If you have a tax CPA they should be able to guide you on how to do estimated taxes and they are done quarterly throughout the year. No it's not exactly simple because there is planning and making necessary tax payments. If the taxes paid/withheld are not sufficient, there could be an under withholding penalty involved, so don't figure you have until April 15th to pay the conversion taxes. It can be a little tricky to determine just how much can be converted without the conversion bumping you up into a high tax bracket. Excessively large conversions can mess with Medicare fees if you're within 2 years of drawing Medicare. Please do yourself a huge favor and research how it all works. FYI, one can do multiple conversions annually and one can have multiple Roth accounts($7k max IRS contribution, and much more with a Roth 401k). The tax brackets for 2024 and 2025 are wonderful for having lower taxation on your conversions.