(302) 734-7526 Think you make too much to contribute to a Roth IRA? Not so fast. In 2010 the IRS eliminated the $100,000 income limit for Roth IRA conversions meaning that you can convert a Traditional IRA to a Roth IRA regardless of how much money you make. Traditional IRA’s allow you to make NON-DEDUCTIBLE contributions regardless of your annual income and whether or not you have a retirement plan at work. When we put these two things together we find a legal IRS tax loophole that allows you to get money into a Roth IRA each and every year even if you make over the maximum income limit. Here’s how it works. You first fund a Traditional IRA with after-tax, non-deductible dollars and then you convert that account to your Roth IRA the following year. You pay no tax on the principle since the Traditional IRA contributions were non-deductible to begin with. The only catch is that you cannot take advantage of this loophole if you have any other Traditional IRA’s. We can help you figure out a Roth IRA conversion strategy and take advantage of this IRS loophole. Give us a call today. ...(read more)
LEARN MORE ABOUT: IRA Accounts
CONVERT IRA TO GOLD: Gold IRA Account
CONVERT IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
https://inflationprotection.org/backdoor-roth-ira-for-high-income-earners/?feed_id=46768&_unique_id=638e90c062453 #Inflation #Retirement #GoldIRA #Wealth #Investing #BIGInvestmentServices #BootheInvestmentGroup #DavidBoothe #Dover #estateplanning #financialplanner #FinancialPlanning #FinancialServices #Investments #wealthmanagement #BackdoorRothIRA #BIGInvestmentServices #BootheInvestmentGroup #DavidBoothe #Dover #estateplanning #financialplanner #FinancialPlanning #FinancialServices #Investments #wealthmanagement
Comments
Post a Comment