The prophecy 2010 began during the renaissance period with the predictions of Nostradamus. The so called end of world prediction is due to happen in 2012, specifically 21st December 2012.

A cult movement has grown around this predicted event and many people have become concerned that the world will end around this time.

This person called Nostradamus became popular because of hi predictions about famous historical events and famous personalities. That would include the assassination of the John F. Kennedy on November 21, 1963, the rise of Adolf Hitler, the French Revolutio, the Fire of London and World War II.

Although the 2012 end time was prophesied by the ancient Mayan people long before the emergence of Nostradamus. The Mayan prophecy was that December 21, 2012 will be the end time. This is the end of their calendar and is part of the 26,000 Galactic cycle.

In the Bible, there is mention about the end of the world of the Second Coming of Christ but it does not say the exact date. Some people believe that 2012 is just a beginning of a new phase of life.

Another theory emerging regarding the 2012 doomsday is the earth will be displace from its axis cause by a large asteroid falling on earth.

This will cause a chain reaction of natural disasters where millions will die and mark the end of a civilization. There will be strong earthquakes and tsunamis caused by dirt and other particles

The Tax Prevention and Reconciliation Act or TIPRA allows different age groups and certain entities under the unrestricted tax brackets to convert from the traditional IRA or Individual Retirement Account to Roth IRA.

Named after its author William Roth, a Roth IRA is an Individual Retirement Account which is rumored to become a major transaction. In 2005, the TIPRA was passed became law. Provisions in this law states that taxpayers of every age and bracket may convert their traditional individual retirement accounts into a Roth IRA and can be implemented without consideration of the taxpayer’s income. Advisors will be contacting those who are interested in this arrangement.\

As of last June 2009, the US job market was at its 15-month low and lay-offs were rampant. To financial planners, this is the perfect time to start planning for retirement. The trained advisors can find ways to deal with current market trends and assist you in this aspect. This TIPRA is a perfect reason to touch-base with clients who are high-income earners. This will definitely scrutinize the old rules of retirement where many people will understandably take advantage of converting from the traditional IRA to Roth IRA.

1. When do you report the income?
Before 2010. You should report the full amount that was converted on that year’s income tax return. Just an example, under the TIPRA, when conversion was done in 2010, you don’t have to report it on your 2010 income tax return. You can include that income on your 2011 and 2012 tax returns. Now, if you converted the amount of $100,000 in 2010, you only have report the amount of $50,000 income in 2011 and $50,000 income in 2012. But if you converted in 2011, you will not be allowed to split the total tax due in two consecutive years.

2. When do you pay the taxes due after you have converted?
You must pay all taxes due on your 2011 and 2012 tax returns.

3. Is is advisable to split the income?
No, splitting the income is not required. If you think that splitting might involve a bigger tax, then you can opt out of this scheme.

4. If you decide to opt-out of the splitting arrangement, can you do it by stages or is it an all-or-nothing option?
It is an actually all-or-nothing option. However, if the worth of your account depreciates after a year then you can revert back to the Traditional IRA without having to suffer penalty.

5. If you convert to Roth IRA when there is basis in the traditional IRA but it is worth less, what happens next?
If the worth of the traditional IRA is less than the basic, then no income will accrue on the converted amount. But, if the taxpayer avails of the itemized deduction for value lost, the Roth IRA will be computed based on the value when the conversion was effected. There is also the scenario where loss cannot be applied to the conversion. The basis in the traditional IRA will be carried over making it the basis of the Roth IRA after it has been converted.

6. What is the five-year conversion rule?
There is a five-year period applicable to the amount used in converting the amounts involved. Without a formula for conversion, you will be allowed to withdraw your earnings without having to pay taxes provided that you are 59 ½ years of age and your account is five years old.

If you did a conversion and do not meet these qualifications then the amount that you converted will be taxable but you will not be charged they pretermination fee of 10%. But the conversion basis taken from from a Roth IRA account in a span of 5 years of the conversion process will be fined 10% if you have not reached 59 ½ yet.

Therefore, it is advisable to maintain a separate account for the intended conversion where you can also do some consolidation in the future without having to pay a fine.

People are becoming obsessed the year 2012 because of its connection with this end of the world theory. In fact a movie has been produced about this phenomenon.

Let me just give you a glimpse of what most people know about this end time theory

The ancient Mayan people prophesied about the end time which, they say will happen in December 2012. They were an extremely intelligent people. Their very notable invention was the Mayan calendar but they also invented clocks that would guide them on the best time to sow the seeds, grow and reap their products.

They also invented calendars based on the movement of the stars to predict lunar and solar eclipses. And the amazing fact is that the Mayans prophecies were almost always right.

But the Mayan calendar has been foretold to be out of existence also in 2012. It is precisely because it is on this date that all life on earth will be terminated. The Mayans, although unconfirmed, were also staunch believers of the end time theory with the natural disasters happening.

There is also a similar calendar made by the Chinese which show that the end time will be in December of 2012.

Predictions about the earth getting sucked into a black hole and meteors crashing into the earth have also been made and also natural disasters of unprecedented proportion like hurricanes tsunamis and strong earthquakes.

Everyone is awaiting the Decembe 21, 2012 cataclysm. We can only expect what’s going to happen.

There are many prophecies that the end time will happen in 2012.We cannot say definitely when the world will end but I would like to say here that there is rally no reason to rush into things. What is important is that we love and care for our neighbors. This is one way of releasing fears and anxieties.

You should learn to relax no matter how chaotic our world is. Stand your ground even if people do not agree or believe you. Meditate and reflect on what you have said or done so that you are always careful about what you want to say or do. Be mindful of your surroundings and be at peace with nature. Be thankful every day for the blessings.

Live one day at a time and make the trip unforgettable. Look at the beauty of things around you and those you meet on your way.

Other people might say that we have to hurry because the world is ending and that it is on the verge of annihilation. But if we just pause for a little while and try to go out of our way to be nice to others then this world will be a better place to live. There will no longer be hunger and thirst because there will be food for everyone.

Wars will stop if government leaders learn to be respectful of others, if leaders stop their lust for power, money and fame.

We should teach children to save on electricity. We should stop patronizing those drug companies by adapting a healthy habit so we don’t get sick and but those medicines.

It is helpful to know that it is dangerous for our health to use pesticides because it could be poisonous to human consumption. It is also wise to know that each step in food processing contaminates food future.

As much as possible we should use hydro-electric power, wind power and solar power. Some businesses discourage the use of environmentally and ecologically sound technologies because they might lose some clients therefore losing revenues in the process.

There’s no need to rush and if you do, keep it to yourself so you don’t inadvertently influence others. Help in solving the problem and not being part of the problem.

We don’t have to follow everything the politicians say. We are independent individuals and we reclaim that status anytimt.

Let us unite and work together for a healthy happy universe where all actions should be based on love and mutual understanding.

Have you ever wondered what astronomy 2012 is all about? Well, you can get the answer about December 2012 from the Mayan calendar which says that the world will end in 2012. There has been a lot of media hype about this news which somehow created panic among the people.

The ancient Mayans are highly skilled in making calendars and they are always accurate in their predictions using these calendars. They used this calendar to foretell what will happen in 2012.

2012-mayan-prediction-calendar-wiki

Facts on astronomy regarding December 21, 2012

This is called the winter solstice or a seasonal event when nights are longer than days. This happens every year but it does not affect anyone else. It was predicted that the earth and the Milky Way will be aligned with each other which could cause sudden death of our planet.

Viewing the sky on December 21, 2012

Rumor has it that come December 2012 you can see on the sky the 2012 prophecies. The sky will have manifestations of the catastrophe that will happen in that day in December 2012.

Maya Calendar Wiki