Find out how a backdoor Roth IRA can save you thousands in taxes by using a simple technique to convert your traditional 401k contributions into after-tax Roth IRA contributions.

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Description:
What is a backdoor Roth IRA?

A backdoor Roth IRA is a way to get around the income limits for contributing to a Roth IRA. Normally, you can only contribute to a Roth IRA if your modified adjusted gross income (MAGI) is below a certain amount. If your MAGI is above that amount, you are not eligible to contribute to a Roth IRA.

There is no such income limit for contributing to a traditional IRA. So, the idea behind the backdoor Roth IRA is to make a contribution to a traditional IRA and then convert that contribution into a Roth IRA contribution. This conversion can be done without paying any taxes on the money since you

Disclosures:
*For Educational Purposes Only. No portion of this content should be construed as investment advice. No portion of this content should be construed as an offer or solicitation for the purchase or sale of any security. References to specific securities, investment programs, or funds are for illustrative purposes only and are not intended to be, and should not be interpreted as recommendations to purchase or sell such securities. Past performance is not a predictor of future results.
*Vincere Tax, LLC is an affiliated but separate company
*Vincere Wealth Management, LLC is an affiliated but separate company…(read more)

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