Most financial advisors agree that IRAs provide a great way to save for retirement.

A traditional IRA allows you to put money away for retirement with two key benefits. First, you often get a deduction right away for the money you put in. Second, you don’t pay taxes on any of the gains until you take the money out, which could be decades later.

A Roth IRA switches this up — the money you put in is taxed up front when you first earn it, but there is no tax when the money is taken out. So the gains are tax-exempt forever! But many taxpayers don’t qualify for Roths, because their incomes are too high.

The IRS now allows you to convert your traditional IRA to a Roth, regardless of income. But you have to pay tax up front on the amount you convert. The good news is that all the money in the account will never be taxed again, which could be a big savings on the gains over the long-term.

It’s best to talk with a financial advisor before converting to be sure this is right for you.