Timothy Sumer

Katie Brown follows up on her 2021 retirement account update with a look at Roth IRAs and Roth accounts. In this Coffee with Katie episode, she delves into the tax benefits of Roth accounts but also highlights the income limitations for investors. Katie answers common questions on Roth Conversions and Backdoor Roth IRA contributions as well. Related video: 2021 Retirement Contributions - ... ( 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 Roth IRA Accounts and Roth Conversions: Exploring Tax-Advantaged Retirement Savings retirement planning is an essential part of securing financial independence in one's golden years. Among the various retirement savings options available, Roth IRA accounts and Roth conversions offer distinct advantages for individuals looking to maximize their long-term savings while benefiting from tax advantages. What...

My name is Alex and I'm a CPA here to help you make money! In this video I explain the mechanics of a Backdoor Roth Conversion. I explore why someone would want to do a Roth contribution, and steps you can take to avoid being taxed on the conversion if you have existing tax-deferred IRAs. #taxtips #personalfinance... ( 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 Backdoor Roth Contributions Explained By A CPA For individuals looking to maximize their retirement savings, a Backdoor Roth contribution could be an effective strategy. This method allows high-income earners, who are typically excluded from contributing directly to a Roth IRA, to bypass this limitation and take advantage of the tax benefits associated with it. To get a better understanding of this strategy, let's dive into the details. To begin with, it's important to und...

Noted retirement planning expert James Lange shares some of his tips on how to plan for retirement and beyond. Jim has dedicated his life to helping others achieve their goals for a healthy and happy retirement: ... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA The Inherited IRA: Understanding the Benefits and Rules An inherited individual retirement account (IRA) is an important financial tool that allows beneficiaries to receive and manage retirement funds from a deceased account holder. With an inherited IRA, beneficiaries can continue to grow the funds while taking distributions in accordance with specific rules and regulations. When someone passes away and designates an IRA beneficiary, that individual inherits the account. The beneficiary then has the option to transfer the funds to an inherited IRA and continue to enjoy the tax be...

One of the most important tools in finance we have today is the ROTH IRA. And ROTH Conversion is, simply put, the process of turning a traditional IRA or pre-tax 401k into a ROTH IRA. Why would you do that? Should you do that? Hint: key words is “taxes” Brad explains the pros and cons of conversion in the full video: ... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA Why Convert Your ROTH IRA Short A ROTH IRA (Individual retirement account ) is a tax-advantaged investment account that allows individuals to save for retirement. One of the unique features of a ROTH IRA is that contributions are made after-tax, which means that withdrawals in retirement are tax-free. This makes it an attractive option for individuals who expect to be in a higher tax bracket during retirement. While a ROTH IRA offers excellent long-term benefits, there m...

One of the most important tools in finance we have today is the ROTH IRA. And ROTH Conversion is, simply put, the process of turning a traditional IRA or pre-tax 401k into a ROTH IRA. Why would you do that? Should you do that? Hint: key words is “taxes” Brad explains the pros and cons of conversion… #roth #ira #conversion #rothira #rothconversion #taxes #taxbracket #nationaldebt #retirement #retirementsaving #retirementplanning #financialplanning #rmds #irma #pretax #finances #saving #whyconvert #financialdecisionsmadesimple... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA Why You Might Need to Convert to a ROTH IRA Financial planning and retirement savings are vital aspects of ensuring a stable future. Among the various retirement saving options available, ROTH IRA stands out as an attractive choice due to its unique advantages an...

Show Notes: Do you know the difference between a CONTRIBUTION to your retirement account and a CONVERSION of your retirement account ? To CONTRIBUTE you must still be working and you face annual limits as to how much you can contribute. To CONVERT to a Roth IRA, you can be retired and your only limits are the size of your pre-tax IRA/401k and the income tax you are willing to pay. Roth IRAs are great for tax free retirement income later and to leave to your children and grandchildren as an inheritance. Questions? Email us at Hans@CardinalGuide.com, call us at (919) 535-8261, or visit our website at H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska. 100118081, Arizona. 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 44...

In this video, we'll walkthrough a step by step tutorial on how to setup a backdoor Roth IRA account with Charles Schwab, how to contribute to backdoor Roth IRA account through a traditional IRA account by converting traditional IRA to Roth IRA, and introduce you to Form 8606. Buy Meet Bryant a coffee ☕️ How to buy and sell options on Tastyworks mobile app 2021 - step by step tutorial How to sell put options and close to take profit | Options Trading 101 Why you should sell put options | Warren Buffett Style Option delta vs option premium | Option Greeks 101 How to buy and sell Stock Options Charles Schwab Mobile App How to trade options on thinkorswim mobile app - TD Ameritrade trading platform How to view Option Greeks on Charles Schwab Mobile App | How to trade options 101 Time code: 0:00 - Intro 00:23 - How to open Traditional IRA & Roth IRA accounts 02:27 - How to contribute to backdoor Roth IRA (Convert traditional IRA to Roth IRA) 04...

Are you currently or thinking about completing a Backdoor Roth IRA Conversion? In theory, it's a simple and effective financial transaction. However, there are 3 important tips you need to be aware of. Reporting on tax form 8606 Aggregation Rules Steps Transaction Doctrine ... ( 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 If you're thinking of starting a conversion to a Backdoor Roth IRA, there are a few things you need to take into consideration before you do so. This process can involve a bit of paperwork and can get confusing at times. However, if you follow the right tips and advice, the conversion process can be more seamless and effective. In this article, we'll share three backdoor Roth IRA conversion tips that will help you complete your conversion in good order. 1. Understand the requirements Before you start the con...

Noted retirement planning expert James Lange shares some of his tips on how to plan for retirement and beyond. Jim has dedicated his life to helping others achieve their goals for a healthy and happy retirement: ... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Inheriting an IRA or 401(k) can be a complex process with several important considerations. These accounts are often designed to be used during an individual's retirement years, but they can also be passed down to beneficiaries after the account holder's death. When inheriting an IRA (Individual retirement account ) or 401(k) plan, there are important tax implications to consider. Depending on the type of account and the beneficiary's relationship to the account holder, certain tax rules may apply. If the beneficiary is the account holder's spouse, they have the opt...

Harvard Law Attorney George Blower leads an in-depth discussion of how to contribute up to $58,000 for 2021 to your Solo 401k and then convert it to a Roth IRA at Fidelity. 2:00 How to Open a Mega Backdoor Roth Solo 401k at Fidelity 11:11 Mega Backdoor Roth Contribution Rules & Limits 19:21 Mega Backdoor Roth Solo 401k to Roth IRA Examples 21:57 Mega Backdoor Roth Solo 401k Deadline & How to Report 26:20 How to Convert Mega Backdoor Roth Solo 401k to Roth IRA LEARN MORE: The solo 401k plan , commonly referred to as self-directed Solo 41k is the retirement plan of choice for self-employed individuals or owner-only businesses including for the features highlighted below: -The highest contribution limits for any defined contribution plan including up to $57,000 (or even $63,500 if you are 50 or older) for 2020 (for 2021: $58k or $64.5 if you are 50 or older). -The ability to make pre-tax, Roth, and even Mega Backdoor Roth contributions. -401k participant loa...

Explanation of how Roth conversions impact your income and whether they affect your eligibility to make Roth IRA contributions To see the formula for calculating the Modified Adjusted Gross Income (for the 2021 tax year), look at page 39 of IRS Publication 590-A - To listen to my podcast, " retirement planning Education" - To join my Facebook group, "Taxes in Retirement" - To subscribe to my newsletter, " retirement planning Insights" - #RothConversions #RothIRA #MAGI DISCLAIMER: This video is only helpful hints and education. It is not specific tax, legal or investment advice. Before considering acting on anything you see in this video, first consult with your tax, legal or investment advisor. While the information expressed in this video is believed to be accurate, neither Andy Panko, CFP®, RICP®, EA nor Tenon Financial LLC make any guarantees to its accuracy.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA ...

We help our clients with Roth IRA conversions all the time and maybe you're thinking that converting to a Roth is good for you. Before you do that conversion here are a few things you may want to consider. We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money. ---Ready to subscribe--- For more information visit: www.JazzWealth.com --- Instagram @jazzWealth --- Facebook --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA If you’re considering converting some of your retirement savings into a Roth IRA, you’re probably wondering if it’s the right move for you. A Roth IRA conversion can be a smart financial move, but it’s not for everyone. Here’s wha...

Converting retirement savings to Roth is typically a taxable event. Learn more - ... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA Converting a traditional IRA to a Roth IRA is a popular move among investors. But it's not necessarily the right choice for everyone. Before making the switch, it's important to understand the differences between the two accounts and evaluate the potential tax implications. A traditional IRA is a retirement savings account that allows you to contribute pre-tax dollars. This means that you can deduct your contributions from your taxable income, reducing the amount you owe in taxes. The money grows tax-deferred, which means you don't pay taxes on the earnings until you withdraw the money in retirement. A Roth IRA, on the other hand, allows you to contribute post-tax dollars. This means that you d...

年底了，Roth conversion 的要注意了！！别踩坑喔！ IRA Conversion 有 Pro Rata 规则，那么公司的退休金呢？ 什么情况下没有Pro-Rata呢？ ****** 欢迎大家继续订阅《潘老师小课堂》，退休生活有保障！ 想了解更详细的内容，或者有任何有关退休，年金，人寿保险，医疗保险，税务规划等等方面的，可以跟我们联系： email：panfinancialinc@gmail.com 微信：pan-financial-inc 往期其他节目： 第 9 期: 退休或离职后公司退休金，401(k)/403 B 怎么投资怎么管理比较好？ 第3期: Roth IRA Backdoor & Conversion; 什么情况下IRA可以抵税；Conversion注意的税务问题; 第2期: 退休省税 Roth IRA: 为什么要Roth IRA? 能放多少? 什么时候领钱没有罚款? 第1期: 退休省税 Traditional IRA: IRA 什么情况下出现的? 可以省现在的税吗? 什么时候取钱没有罚款? 有RMD吗? ... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA https://inflationprotection.org/%e6%8a%95%e8%b5%84%e7%90%86%e8%b4%a2%e7%ac%ac50%e6%9c%9f%ef%bc%9aira%e5%88%b0roth-%e6%88%96%e5%90%8e%e9%97%a8roth%e7%9a%84pro-rata-rule%ef%bc%8c%e5%85%ac%e5%8f%b8%e9%80%80%e4%bc%91%e9%87%91%e7%a8%8e/?feed_id=57786&_unique_id=63b8ec8f2eb42 #Inflation #Retirement #GoldIRA #...

We have all heard the word ROTH thrown around in the world of finances but what is it, where did it come from and how do we use it? In today's show, Brad takes a deep dive into ROTH IRA's and explains how it relates to taxes and how we can use ROTH's as a part of our financial portfolios. BOOK YOUR RETIREMENT TRACK MEETING: or call 805.410.5454 FOLLOW Brad on Social Media Facebook: Instagram: Link to my New Book "Retire Right" Music Track: License ID- P67643-145694... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA https://inflationprotection.org/what-is-a-roth-ira-brad-barrett/?feed_id=50674&_unique_id=639d88b399952 #Inflation #Retirement #GoldIRA #Wealth #Investing #401k #BankingTips #bestsavingstrategy #Bonds #BradBarrett #contribution #Conversion #Currency #Finance #Finances #financialadvice #fina...