Is a Backdoor Roth IRA Right for You?
Backdoor Roth IRA – If your Modified Adjusted Gross Income for 2014 is greater than $191,000 and you are married filing jointly ($129,000 for single) you can no longer make a Roth IRA contribution. Or can you? If you have no other IRA’s, there’s are strategy that will work for you. Make a non-deductible IRA contribution then immediately convert the non-deductible IRA to a Roth. Beware of the tax pitfalls if you currently have a traditional IRA. Consult with our office to see if this strategy will work for you.
“Dennis and his team continue to provide the expert structural support that has helped us grow our business from no employees to many, from seasonal to year-round operations, from in person-only transactions to internet sales and deliveries. Their monthly reports ensure cost control, buying pattern adjustments, and seasonal fluctuation planning. All this and no worries about the IRS!”