Tax Secrets Of The $5 Billion Roth IRA – Part 12

Backdoor Roth IRA contributions. By making nondeductible contributions to traditional IRAs and then performing a Roth conversion, higher income individuals have a backdoor to contributing to Roth IRAs. But there are pitfalls to be aware of.

Roth IRAs are unique investment accounts. They offer tax-free distributions and tax-free growth.

But you can only directly contribute if you earn moderate amounts of income. With such limits how do some people amass Mega IRAs – which are accounts ranging 10s of millions to billions of dollars?

There are two workarounds in the tax code – Backdoor Roth Contributions and Roth Conversions. Today we will discuss Backdoor Roth IRA Contributions.

This series will reveal the tax secrets behind Mega IRA accounts. I will also show you how to create your own Mega IRA account.

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