Timothy Sumer

[ Offshore Tax ] Let's Talk About Roth IRA Contributions for Couples Using FEIE The Backdoor Roth IRA is a strategy that high earners use to convert a traditional IRA into a Roth IRA. This strategy allows them to make contributions to an IRA, roll it over to a Roth IRA, or convert the entire IRA to a Roth. The Backdoor Roth IRA strategy is a legal method to circumvent the income limits that typically prevent high earners from owning Roth IRAs. This strategy is not a tax dodge. While establishing a Backdoor Roth IRA may incur higher taxes initially, it offers the future tax savings associated with a Roth account. Moreover, the Backdoor Roth IRA strategy can be advantageous for individuals who anticipate having leftover funds in their traditional IRA. They can transfer these funds to their heirs through a Roth IRA. TIMESTAMPS: 0:00 INTRO 1:00 Roth IRA Contributions for Couples Using FEIE 2:00 Funding IRA and convert to ROTH 3:48 OUTRO --------------------------------

SBTV asks David Drummond of Georgetown Trust about gold self-directed Individual Retirement Accounts (IRAs) and the benefits of going international/offshore to diversify wealth in times of economic uncertainty. Discussed in this interview: 00:53 What is a Self-Directed IRA? 02:08 Difference between an IRA Custodian and an IRA Administrator 03:34 Difference between a 401K, Roth IRA and Self-Directed IRA? 05:35 What does it mean to go international/offshore? 08:04 Favorable jurisdictions and second passports 13:10 Benefits of having international bank accounts 16:38 Governments poking around in foreign bank accounts 22:43 Holding gold offshore to diversify wealth 24:46 Self-directed gold and silver IRA 27:25 Any restrictions to the type of gold and silver that can be bought with IRA 29:26 Asset protection for business owners 33:33 Offshore LLC vs International Business Company(IBC) 38:39 Foreign earning income exclusion(FEIE) Find out more about Silver Bullion: Silver Bulli