No brainer? Conversion to Roth IRA

I'm single, 32 years old, no dependents. I have $6,000 in a standard IRA.
Income this year (including dividends from mutual funds and interest) will be $25,000.
Next year, my income will be $200,000 (and will remain this way for the forseeable future).
Is it pretty much a no brainer to convert the entire IRA to a Roth? I do have the cash on hand to pay the taxes on the conversion.
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tina32 had written this in response to http://www.rockryno.com/taxes/No-brainer-Conversion-to-Roth-IRA-24400-.htm : martin,
nice income jump..
Converting to Roth is not aways a no brainier; it also depends on what your financial situation will be at the retirement time.
Here are couple of websites that detail basic do's and don'ts of Roth IRA, conversions, etc and what to stay away from:
http://www.rothirarules.net/roth-ira-investments.htm
http://www.rothirarules.net/roth-ira-conversion.htm
http://www.rothirarules.net/roth-ira-eligibility.htm
http://www.rothirarules.net ------------------------------------- martin lynch wrote:

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On Dec 26, 11:54 am, martin lynch wrote:

You look like a good candidate to me. Even in a high income tax state you'd be looking at only a $1,500 tax bill.
More important is going forward. Starting next year you can convert from traditional to Roth at any income level. So you could make a $5,000 nondeductible (I assume) traditional IRA contribution and immediately convert to Roth with zero effect on your taxes.
Phil Marti Clarksburg, MD
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Don't bother. You won't be able to contribute to the Roth in the near future, so you would be left with a small Roth account.
-- Ron
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However starting in January, you will be able to make a nondeductible contribution to a traditional IRA and 30 milliseconds later convert it to a Roth.
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ArtKamlet at a o l dot c o m Columbus OH K2PZH

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On 12/26/2009 11:54, martin lynch wrote:

In your case yes.
If you leave the $6000 in the IRA, you have to pay taxes on all withdrawals starting in about 38 years.
If you convert to a Roth now, you will only pay taxes on the $6000, not on future earnings once moved into a Roth.
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martin lynch wrote:

Congratulations on completing your medical residency !
Doug
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