“But can’t fund a Roth IRA, I make too much,” or so goes the common objection. And that is partially true. There is a law in the tax code that says once you make a certain amount of money, you are no longer allowed to fund a Roth IRA. At least not directly. The crazy thing is though, the same government has written into the same tax code a way around that obstacle. Specifically, it’s called the backdoor Roth IRA conversion. That’s a big long financial jargon for “yes it’s possible”.
As with anything in the tax code, this is not necessarily a simple process, but we help you take the complexity out of it. If you want to learn more, give us a call.