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A backdoor Roth IRA is targeted toward high income earners who want to convert after-tax contributions from a traditional IRA to a Roth IRA. Both a traditional IRA and a backdoor Roth IRA have the ...
The solution to this dilemma is the backdoor IRA. What is a backdoor Roth IRA? With a backdoor Roth IRA, you deposit money in a non-deductible traditional IRA and then convert that IRA into a Roth ...
A backdoor Roth IRA is a legal tax loophole for people whose income exceeds the limits for contributing to a Roth IRA. For many people, the long-term tax benefits of Roth conversions far outweigh ...
What is a backdoor Roth IRA? If you’re ineligible to contribute to a Roth IRA, you can consider a backdoor Roth IRA. Through this process, you open a traditional IRA, which has no income ...
A backdoor Roth IRA isn't a specific type of IRA, rather a description of a strategy to help wealthier taxpayers avoid certain Roth IRA restrictions. Backdoor Roth IRAs have been in the news as of...
A mega backdoor Roth IRA is a good option if you earn a high income and want another retirement savings vehicle that offers tax-free withdrawals in retirement. But it can be complicated getting ...