Should I Covert IRA to Roth IRA?

If you believe you're going to be in the same bracket now as in retirement, it honestly doesn't matter if you convert or don't convert. It's "mathematically" the same result.

Edit: For those that believe my statement is incorrect, go buy some ultra expensive IRA conversion calculation software and you'll realize I'm right. I changed "technically" to "mathematically" in my above statement.

Edit2: If you're going to go from 35% to 25%, a normal IRA is better. You would not want to convert unless it's for estate planning purposes.

Mathematically speaking, its better to convert as soon as possible so that all growth from the conversion point forward is tax free. A ROTH IRA is one of the only legal ways to earn money without ever being taxed on it.

Also, as others have mentioned, a ROTH has more flexible terms and more peace of mind for withdraws.

Another side of the equation is that if your account is down right now because of the stock market, its a great time to convert because the dollar value of your investments is lower, which means your taxed on a lower amount compared to converting it when the market is at a high point.

If you can afford to pay the taxes without dipping into the IRA account, I would convert it in a heartbeat.

If you expect to be in the same tax bracket when you retire, it makes sense to convert from a Traditional IRA to a Roth IRA. With the Roth IRA, although you pay tax on your contributions now, your earnings grow tax free. This will likely save you on taxes for the long-run. Further, the Roth IRA gives you extra flexibility in withdrawals.

If you convert in 2010, you have the option of paying the income tax for the conversion all on your 2010 return, or you can pay 1/2 on your 2011 return and half on your 2012.

Its less worry about how much money you have and when to take it out with a Roth. You know exactly how much money you will be able to take out and actually get. You dont have to worry about a special tax being enacted or any other craziness. For me it provides a piece of mind.

yes you should. roth ira's do not require you to take distributions at any age and you can give roth ira in will. it can grow tax free for your heirs once you die