164 \\ Backdoor Roth IRA Strategy: CPA Advice for High Earners on Tax Savings
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Thu 12 Dec 2024
- Episode Link
- https://smallbusinessfinance.podbean.com/e/164-roth-ira-loophole-how-high-earners-can-legally-dodge-tax-limits/
In this episode, learn how high-income earners can still build tax-free wealth using the backdoor Roth IRA strategy. We break down who qualifies for a Roth IRA, current income limits, and why most business owners are locked out of direct contributions. You’ll discover how to use a traditional IRA to legally move money into a Roth IRA, why timing matters, and how to plan with a CPA and financial advisor to protect future income. With income tax rates likely to rise, this tax strategy gives you a way to create tax-free income in retirement. If you want smart strategies for tax reduction, tax planning, and future tax-free withdrawals, this episode is for you.
Next Steps:
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