In light of recent tax proposal released by the House Ways & Means Committee on September 13, 2021, Adam Bergman, Esq., founder of IRA Financial, will explore Roth conversion strategies in this YouTube Live event.
The recently-proposed House Ways & Means Committee tax plan has a number of significant provisions that can impact your Roth IRA and Roth 401(k). These include:
*A $10 million cap on all retirement accounts in the aggregate
*The elimination of the Backdoor Roth IRA
*The elimination of the Mega Backdoor Roth 401(k)
*Limitation of Roth conversions based on income threshold
Mr Bergman will talk about the details of each of the key Roth provisions, their potential impact on your Roth IRAs, and his thoughts on the likelihood these new rules become law.
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*Learn more about a Roth conversion –
*Watch our recent “Ask Adam” about the tax proposal –
*Visit our website –
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Isn’t ‘selling a house’ a capital gain that won’t be in your income? Are you talking about IRMAA? Also, you talk about 500 people with over $25mil in 401k .. and how many ‘average tax payers’ do there have to be for that one guy with $25 million? I’d say the smaller number of people is actually an example of the issue.
Backdoor Roth IRA – doesn’t that only take effect in 2031? I.E., 10 years from now? That is a tactic to get people to convert to ROTH NOW, vs later.
Facts: Age 70 1/2, married, $1.5 million IRA. I read where the only reason to convert to a Roth at this age is for your children to get 10 years tax free growth along with not having to make RMDs which would increase their tax bracket on their wage income. After watching your video (they are all so informative), what would be your strategy based on the added risk from the U.S. Congress changing the rules? I think a lot of people would be interested in your answer. Better yet, when does it not make sense to convert? Keep up the excellent videos!
wow so i take it you haven't actually read the bill-or really only care about high level clients who probably aren't actually watching this to get scared. above 20 million in an ira. how do i block with channel
I plan on retiring in 3 years age 55 and doing roth conversions until SS from my 401k will these proposed changes affect me?
What’s your Bitcoin price target