Description

Join Casey and Mike as they break down the ins and outs of the Backdoor Roth IRA strategy. This episode dives deep into how high-income earners can legally contribute to a Roth IRA, even when they exceed income limits. You'll learn the step-by-step process, understand crucial tax implications.

Key topics covered:

• Step-by-step guide to executing a Backdoor Roth IRA conversion
• Understanding and navigating the pro-rata rule
• Tax implications and strategies to minimize tax impact
• How the Backdoor Roth fits into your overall retirement strategy
• Comparison with Mega Backdoor Roth opportunities

IRS Resources:

• Form 8606 Instructions - Details on reporting non-deductible IRA contributions

Additional Resources