IRA Financial’s Adam Bergman discusses the Mega Backdoor Roth 401(k) and how it supersizes your tax-free (Roth) retirement income. By making after-tax contributions to a 401(k), you can move those funds into an IRA and convert them to a Roth.
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About IRA Financial:
IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(K) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions.
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Do you do tax returns? I’m looking for an accountant for my personal taxes, my business taxes, and my trust taxes
Hi Adam,
Great information! Question for you. Could a self employed person deploy a combination strategy of using the deferred 19.5k, 20% of compensation via profit sharing and then contributing the 57k shortfall (let’s say 20k for this example) to the after tax bucket and then converting only that 20k to the Roth IRA?
I’d imagine you can be fluid with the bucket allotment depending on deduction needs for a given year?