Backdoor Roth IRA for people who make too much $ #taxes #rothira
Summary
This video discusses the backdoor Roth IRA method, which allows individuals with high incomes to still contribute to a Roth IRA by first contributing to a traditional IRA and then converting it to a Roth IRA. This strategy aims to avoid earnings during the conversion period and maximize tax benefits within the Roth IRA limit of $6,500 as of 2023.
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