On Your Money, Your Wealth® podcast #289 with Joe Anderson, CFP® and Big Al Clopine, CPA, how do you report a backdoor Roth IRA conversion over two tax years, and is there a point at which the backdoor Roth just doesn’t make sense? Plus, more strategizing for your Coronavirus related distribution, stimulus (and possible future stimulus) tax planning, and your self-employed, small business retirement plans. Fill out the podcast survey for a chance to win a $100 Amazon e-gift card, send in money questions, and access the transcript and free financial resources:
00:51 – Is There a Point at Which Backdoor Roth Doesn’t Make Sense?
07:51 – How Do I Report a Backdoor Roth IRA Conversion Over Two Tax Years?
15:06 – Can I Take a Coronavirus Related Distribution from 401(k) and Roth 401(k – and Put it In an IRA?
22:22 – If We Are Married Filing Separately Are We Considered Single for $1200 Stimulus Tax Credit?
24:00 – Is Donald Trump Temporarily Waiving Capital Gains Tax on Real Property?
26:27 – Self Employed: My Spouse Has a Retirement Plan, Would My SEP-IRA Contributions be Non-Deductible?
29:22 – Self Employed S-Corp: Can I Contribute Both the Employer and Employee Amounts to SEP IRA and Solo 401(k), Then Convert SEP to Roth?
36:38 – Should I Contribute to Roth or Traditional TSP?
43:02 – Comment: Joe Comes On Like an Extra Spray of Cologne
44:58 – The Derails: More Comments
Schedule a free assessment with any one of our CFP® professionals, either online or at one of our financial planning offices in San Diego, Brea, Irvine, and Woodland Hills, California:
Subscribe to our YouTube channel and stay tuned for the next episode of the Your Money, Your Wealth® TV show:
Subscribe to the YourMoney, Your Wealth® podcast:
IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors….(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
0 Comments