Income too high? Then you're probably not allowed to contribute to a Roth IRA. Likewise, a traditional IRA contribution may not be tax-deductible. To get around that (legally) you may do a Backdoor Roth by first contributing after-tax dollars to an IRA, then Roth converting. But beware the pro-rata rule… Read more at IRS 2021 limitations: This information has been provided for educational purposes only and should not be considered financial advice. In addition, information may not be accurate at the time you read this. Please seek out a licensed professional for current advice specific to your situation.... ( read more )
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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 :)