Today, will cover a sneaky little trick you can use to avoid taxes in your traditional IRA. When making a contribution that is non-deductible to your traditional IRA the IRS ask you to pay taxes on the free tax portion of your traditional IRA. Today, we’ll explore the option of moving your traditional IRA pre-tax dollars to a 401k or other workplace retirement plan before making your nondeductible contribution to avoid those taxes.We’re an investing service that also helps you keep your dough straight. We’ll manage your retirement investments while teaching you all about your money.
—Ready to subscribe—
For more information visit:
— Instagram @jazzWealth
— Twitter @jazzWealth
Business Affairs 📧Support@JazzWealth.com…(read more)
LEARN MORE ABOUT: IRA Accounts
INVESTING IN A GOLD IRA: Gold IRA Account
INVESTING IN A SILVER IRA: Silver IRA Account
REVEALED: Best Gold Backed IRA
Is this what is called a back door Roth IRA? What I need help is to do this but with a rollover 401k account all at once.
Can't see your chalkboard
How do I get one of those cool shirts?
gotta buy a different board to write on – can't read what you're chalking there
Great advice!!!!
The $100,00 traditional IRA does not have to be moved to the 401(k) first. You can backdoor Roth IRA first and then move the $100,000 traditional IRA to the 401(k) before the end of the year.
Bold move to be AUM and tell clients to do this. This is the backdoor Roth trick, but very helpful
Blackboard sux.
Your notes on the blackboard are totally unreadable.
Damn good info. Too late for me, though. I'm retired, and everything is in rollover or Roth IRA. So I'll be paying taxes on conversions, like it or not.
Great info brother I can’t believe you don’t have more followers
Thanks Dustin! Always excellent advice! Been watching for a while now and will continue. Good on ya mate…
Why did you even have a board there? Bad explanation combined with a “black”board
What if my 401k is a Roth 401k
This is dark magic ✨.
Anyway I can get post-tax contributions already mixed with pre-taxed money in a traditional IRA converted to a Roth? Without paying taxes.
Could you open a new IRA account, contribute the max $6000 in there, then immediately roll over to your Roth IRA? Since the new IRA has no money in there to start with, would you still have to pay taxes on the roll over amount?
Let me get this right. The $100.000 is moved to a Roth tax free? Please help me understand. Thanks!!
Thanks Dustin always great advice !
I have an IRA with a broker that I have had for a long time, to avoid the "Pro Rata Rule" can I open another couple of IRA's (traditional and ROTH) at another broker and just do my backdoor Roth over there with no "Pro Rata Rule"?
Well done!
Nice!
How many times can I do this? Once a year back and forth? I can't contribute more than 6k anyways to my Roth IRA.
My financial advisor (hourly fee only) discussed this straight away, but I guess that makes sense as she doesn't make money on where our assets reside.
me clicking this video because I read "Sneaky trick to avoid paying taxes in
… your Traditional IRAQ"
If you had a 401k with a previous employer and you rolled into an IRA can you roll that IRA into a new 401K?
☺☺