Timothy Sumer

On Your Money, Your Wealth® podcast #314 with Joe Anderson, CFP® and Big Al Clopine, CPA: Are you eligible to make a backdoor Roth IRA conversion? Is it allowed? Is it taxed? How does a Roth 401(k) different from a Roth IRA? Can you buy a family member’s condo for below market value then rent it back to them? Can you max out a family member's Roth each year? Can you file 2020 taxes even though you haven't received IRS form 1098 yet? How can you diversify your portfolio into more international investments? How do capital gains "ride on top" of ordinary income again? And finally, a correction regarding Social Security deeming rules. Access the transcript and financial resources, ask your money questions: 00:00 - Intro 01:00 - Can I Do a Backdoor Roth Conversion? (Nick, Huntington Beach, CA) 09:11 - Is a Backdoor Roth Conversion Taxed? (René) 12:56 - We Make too Much to Contribute to Roth. Are Backdoor and Mega Backdoor Roth Strategies Allowed? (Jane, Michiga...

Today on Your Money, Your Wealth® podcast 309, Joe Anderson, CFP® and Big Al Clopine, CPA are answering questions from across the personal finance spectrum: inherited IRAs and late RMDs, contributing to non-qualified deferred compensation plans, making Roth contributions for grandkids, how a Roth impacts student loans, taxation on ESPPs and RSUs, paying off the mortgage, and retirement plan spitball analysis for a clergyman and his wife, and for a couple with a profitable side hustle. Access the transcript and financial resources, ask your money questions: 00:56 - Options for Taking Late RMDs on an Inherited IRA? (Bryan) 06:42 - Should I Make Non-Qualified Deferred Compensation Plan Contributions? (Jeff, Dallas, TX) 11:49 - Can We Make Roth Contributions for our Granddaughter? (Therese) 14:16 - Clergyman Retirement Plan Spitball Analysis (Christine, PA) 23:45 - How Does a Roth Impact Student Loans? (Sheryllyn) 28:54 - Confirming Capital Gains vs Ordinary Income vs Roth (Ric...