Timothy Sumer

What is a Backdoor Roth IRA contribution? Who should consider using this strategy? How do you make Backdoor Roth IRA contributions? What are pro-rate rules and how do I minimize their tax impact?... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA For those individuals who have not had the opportunity to fund their traditional IRA account, the Backdoor Roth IRA offers an alternative way to contribute to a retirement account . It offers a loophole to high-income earners who typically would not be allowed to contribute to a Roth IRA. In order to understand the Backdoor Roth IRA, it is important to have an understanding of the traditional IRA and Roth IRA. The traditional IRA offers a tax deduction on the contributions at the time of contribution, but is taxed when the money is withdrawn in retirement. The Roth IRA, on the other hand, is funded...