Good news. The Tax Reform (TCJA) did not harm the backdoor Roth strategy. Do not miss tax free growth – over 40 year period 94% of your account balance is due to growth and only 6% is due to contributions. First, as you likely know, the Roth IRA is a terrific...
The Section 199A tax deduction is complicated, and many questions remain unanswered even after the IRS issued its proposed regulations on the provision. And to further complicate matters, there’s also a lot of misinformation out there about Section 199A. Below are...
Tell Me about the Cliff You have two opportunities to go off the cliff. The first opportunity applies to every passthrough business that pays no W-2 wages. Let’s say you are married filing a joint return, own no qualifying property, and pay no W-2 wages in your...
Get ready to save more for retirement in 2019! IRAs are bumped up to $6,000 and 401(k) type plans are at $19,000 in 2019. Catch-up contribution limits are unchanged. Happy saving! We specialize in helping clients clarify their taxes so they keep more of their...
