Many people who are looking to implement a Roth conversion strategy also have a regular investment account. After all, retirement account contributions are limited each year, and many people are looking to set aside additional money. Over time, these taxable accounts can accumulate quite a bit of growth in themselves, particularly if you have a sensible, long-term, diversified portfolio. In that case, you might have capital gains that are now part of your tax planning picture.

ESPPs can be a great way to build wealth and more quickly achieve your personal financial goals.

An incentive stock option (ISO) is a company benefit that gives you the right to buy shares of stock at a discounted price with a tax break on the profit. On the other hand, non-qualified stock options known as NSOs (the more common type) are not as advantageous tax-wise as incentive stock options.

As a highly compensated employee you may find that company stock is now a part of your overall salary package. For some, managing these different types of stock grants and planning what to do with them can be frustrating and confusing.

Roth conversions can be a great way to manage your tax liability over your lifetime. But there are additional considerations about how your retirement accounts might impact the tax liability of your heirs after you pass away.

Roth conversions can be a powerful way to manage your tax liability over the course of your lifetime. However, you should have a deliberate and systematic Roth conversion strategy that is aligned to your priorities and your specific situation.