Will the “Build Back Better” Plan Eliminate Roth IRAs - Mega Backdoor Roth IRAs for Good? SUBSCRIBE to NOT being a transaction ever again... Like us on Facebook! Follow us on Twitter! The recent version of the Build Back Better Act has brought back retirement law changes that will curb high balance accounts and popular wealth building strategies including backdoor Roth IRAs and after-tax 401(k) contributions. The goal: Tax the wealthiest taxpayers to help pay for the new Social and Climate bill that is currently being debated in Congress. History of Roth: A Roth IRA can be a great way to save for retirement since the accounts have no required minimum distributions and you withdraw the money tax-free. The Roth IRA was introduced as part of the Taxpayer Relief Act of 1997. Is named for Senator William Roth, the author/founder Here’s some of the fine print: Backdoor Roth IRA’s Backdoor Roth IRA’s – These are where someone makes too much to contribute to a Roth IRA, and t
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)