News

Bennett Thrasher PC, Atlanta CPA firm, announced Shareholder Scott Hazy has been elected Deputy President (President Elect) of the Board of Directors and Shareholder Cary Rodin has been elected Chair of the Tax Committee of DFK International.  DFK International is an international association of independent accounting firms and business advisors that has been meeting the needs of clients with interests in more than one country for 45 years. 

“When we first became a member of DFK International in 2002, our firm began its strategic focus on growing our international tax practice,” said Co–founder of Bennett Thrasher, Rick Bennett.  “We are so proud that after nine years of membership, two of our shareholders have been elected to key leadership positions within DFK International and that our firm has performed more tax work than any other firm in the entire roster of U.S. based DFK firms.” 

About DFK International

DFK International is a major international association of independent accounting firms and business advisers that has been meeting the needs of clients with interests in more than one country for 45 years. The association now has over 300 offices across the world.

DFK International creates special value for clients with cross-border interests. DFK member firms enjoy effective cooperation throughout the world resulting in the ability to deliver international services on time and at a competitive cost.

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limitation for contributions to a Roth IRA remains in effect, the $100,000 MAGI limitation for conversions has been repealed.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.