Skip to main content

Backdoor Roth IRA for High Income Earners


(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
Labels:

Comments

Post a Comment

Popular posts from this blog

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their
Post a Comment
Read more

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'
Post a Comment
Read more