401k rolled into a Roth IRA or traditional ira?

You cannot roll a (non-Roth, regular) 401k into a Roth IRA
directly at all.  You may roll a regular 401k, no matter how
big, into a *traditional* IRA, though.

After that, you may be able to do a traditional->Roth
conversion, but to do so, there are (a) income limits
(currently $100k) and (b) you are prepared to pay the
taxes.

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True only for another 57 days.  Direct rollovers from traditional defined
contribution plans to Roth IRAs are possible 1/1/2008 (assuming usual
conversion requirements are met).
http://www.complianceheadquarters.com/ComplianceArticles/printerFriendlyCHQ_1_3289_3289.html

Mark Freeland
BnetOnewsX@sbcglobal.net

I'd answer you with credit to http://www.fairmark.com/rothira/eligible.htm

In 2007, one may not roll a 401(k) into a Roth IRA. It must first make a
stop, however brief, in a regular IRA. This changes in 2008, when a
direct rollover is permitted.

Until, and including 2009, you can't convert a traditional IRA to a Roth
IRA in a year when your modified adjusted gross income is greater than
$100,000. In 2010, that changes as well.

I suggest looking at the tax bracket you are in, and converting to a
Roth over multiple years to minimize the tax hit. Whatever bracket you
are in, you may want to convert enough to just stay in that bracket, but
not go over. Just a thought.

JOE

Does the private firm offer its own 401k and do you plan to continue
working for them?

Your statement "I need to roll my 401k into a IRA or even another
401k" suggests this is the case (even if so, that may still not be the
best option).