Reported 27 days ago
Couples with a combined income of $400,000 may utilize a backdoor Roth IRA strategy to circumvent contribution limits and access tax-free withdrawals in retirement, though this requires paying income taxes upfront on converted amounts. This financial maneuver can offer significant future tax benefits, but may also lead to higher tax expenses now, making it essential to weigh the pros and cons and consult with a financial advisor before proceeding.
Source: YAHOO