Timothy Sumer

Does it make the most sense for your situation to do a standard rollover when you retire or could you benefit from a 'reverse rollover'? Either with a 401k, 403b, or TSP, a reverse rollover can be a powerful option for some retirees. You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to Many retirees are quite familiar with a normal 401k to IRA rollover. This will be the most common type of rollover most individuals will use. But this doesn't mean it's the best option for EVERYONE. Did you know there are benefits to reversing this process and doing reverse rollover (IRA to 401k rollover, IRA to 403b rollover, or IRA to TSP rollover)? What are some of these benefits? 0:00 What is a Reverse Rollover? 0:51 Reason #1 - Early Access 2:28 Reason #2 - Backdoor Roth IRA 4:25 Reason #3 - RMD Exemption 5:46 Reason #4 - Creditor Protection 6:28 Reason #

Chances are if you could get one over on the IRS, you would take full advantage. I am all about paying the taxes that I owe, but I don’t want to pay more than I have to, if I can legally pay less - I will. 👮 Today on The Wealth Board™ 👨‍🏫 I am going to share information on the Backdoor Roth IRA. If you don’t know about the Roth IRA, it is one of the best tools for building wealth. It allows you to accumulate tax free money. You can only put a certain amount into a Roth IRA each year. As of 2020 if you are under the age of 50 you can contribute $6,000 (add $1,000 if you are over 50). If you are single and make less than $124,000 (adjusted gross) you can contribute. The IRS starts to phase out on a scale as your income increases. If your income exceeds the limits set by the IRS you can contribute to a Traditional IRA with a pre-tax deduction. If you want to take advantage of the Backdoor Roth IRA, you would invest into a Traditional IRA and then convert this to a R

What do you do if you over contributed to a traditional IRA? If you made an excess contribution to an IRA, I go over some options that you have. Excess contributions are taxed at 6% per year for each year the excess amounts remain in the IRA. In case this ever happens to you, or someone you know, there are some very good options, including a backdoor Roth IRA conversion. So it’s really not something to worry too much about. Later in the video, I demonstrate how the backdoor Roth IRA conversion is reported on the tax form 8606. 💜 Show Your Support: Fuel Our Channel with a Cup of Coffee! ☕️ 📘 FREE EBOOK FOR ENTREPRENEURS! 📖 Transform Your Accounting - Learn Modernization Concepts in My Book Today! 👪 JOIN OUR FACEBOOK GROUP AND GET YOUR TAX QUESTIONS ANSWERED! 🔔 Subscribe for more videos just like this: Welcome to my Ask An Accountant YouTube Channel! My name is Noel Lorenzana, and I'm an Illinois licensed, Registered CPA. While I am an accountant, I'm

In this video, I'm explaining the Pro Rata Rule and calculating the taxable portion of a backdoor Roth IRA conversion. Go slow, use a calculator and keep records of your calculations with your taxes. 0:00 Intro 0:15 Pro Rata Rule Formula 2:14 Pro Backdoor Roth Conversion Example 3:14 Pro Rata Formula Example 5:11 Important numbers for Pro Rata Formula 5:48 IRS Form 8606 ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decis

HOW TO ROLLOVER AN IRA TO 401K | If you have recently started the process of doing a Backdoor ROTH IRA, you may be at the point where you need to Rollover your IRA to a 401K. In this video, I’m going to show you how to move your Rollover or SEP IRA to your 401k. #rolloverira #rothira #401K #districtcapitalmanagement If you'd like to have a comprehensive financial plan prepared for you including rolling an IRA to a 401k, schedule a free discovery call today at: Get free monthly financial tips by subscribing to our newsletter at ! 0:00 - How to rollover an IRA to 401K 1:04 - Go to your IRA account holder 2:36 - Alvin called Fidelity and found out.... 3:06 - Log into your current 401K 4:13 - 401K Rollover Info 5:27 - Fill out IRA Distribution Form ***RECOMMENDED READING LIST*** The One-Page Financial Plan by Carl Richards (easy read, holistic + fun graphics!) Simple, Smart Investing by Ian Kennedy (can help you construct your investment portfolio) A Random Walk

Want to Open a Roth IRA as an American expat? Then you've come to the right video! As an American expat living abroad, opening a Roth IRA is not so straight forward all the time, but we have you covered. - In this video, we're going to talk about: - How to open a Roth IRA while abroad - What tax rules are associated with Roth IRAs - If you are eligible to open a Roth IRA as an American expat - and so much more! If you want to know more about personal finance as an expat abroad, check out my YouTube playlist below. If you want to find out more about My Expat Taxes and the services that they offer, click the link below: Join my Financial Fluency Master Class - Financial Fluency Master Class - ✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺✺ ✅ Subscribe for more FREE Wealth & Wanderlust Content - . . ✨ KEEP UP WITH ME ⬇️ Blog 👩🏽‍💻 IG 📱 . . FAQ - How can you move abroad? ➡️ - How can I find a job abroad? ➡️ - How can I do a masters abroad? ➡️ - How can I travel for ch

Find out how a backdoor Roth IRA can save you thousands in taxes by using a simple technique to convert your traditional 401k contributions into after-tax Roth IRA contributions. 🔥 Stop Leaking Money to the IRS: 🧾 🔥 Take your personal finances to the next level: Https://www.Vincerewealth.com 💰 Learn more about your money: BOOKS I RECOMMEND: 📚 The Intelligent Investor: 📚 Your Score: 📚 What works on Wall Street: 📚 I will teach you to be rich: 📚 The Millionaire Next Door: 📚 Rich Dad, Poor Dad: Follow me on Social: Let’s Connect! Instagram: @joshbennett_cfp + @moneymastersu Website: Josh’s Affiliated Wealth Management Websites: Https://Vincerewealth.com Description: What is a backdoor Roth IRA? A backdoor Roth IRA is a way to get around the income limits for contributing to a Roth IRA. Normally, you can only contribute to a Roth IRA if your modified adjusted gross income (MAGI) is below a certain amount. If your MAGI is above that amount, you are n