Backdoor Roth IRA Explained Simply for Beginners: A Smart Path to Tax-Free Growth!

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Know Your Numbers REI with Chris McCormack

Chris McCormack

191 episodes

4 days ago

Know Your Numbers REI is where you can learn how to eliminate the frustrations and chaos you've felt around tax and accounting in your real estate portfolio. Chris is a CPA, Certified Tax Planner and owner of Better Books Accounting - an accounting and bookkeeping firm focused on having real estate investors confidently pay less to the US government Be sure to visit our website betterbooksaccounting.co Connect with Chris on Facebook: Chris McCormack Follow Chris on Instagram: @chrismccormackcpa Connect on LinkedIn: Chris McCormack CPA, MBA

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Backdoor Roth IRA Explained Simply for Beginners: A Smart Path to Tax-Free Growth!

Know Your Numbers REI with Chris McCormack

11 minutes 13 seconds

2 weeks ago

Backdoor Roth IRA Explained Simply for Beginners: A Smart Path to Tax-Free Growth!

In this episode of the Know Your Numbers, REI Podcast, hosted by Chris McCormack, we delve deep into tax planning for high-income earners who exceed the contribution limits for Roth IRAs. Chris explains the benefits of a Roth IRA and introduces the 'Backdoor Roth IRA' strategy as an effective means to build tax-free wealth for retirement.

Learn about specific income thresholds, contribution limits, and practical steps to transition from a traditional IRA to a Roth IRA. Discover why this strategy is crucial for legacy planning and ensuring a tax-free retirement.

Don't miss these valuable insights to enhance your retirement planning!

Tune in to the Know Your Numbers REI podcast for valuable tax planning tips and strategies to keep more money in your accounts. Don't miss out on empowering yourself with the knowledge to make informed financial decisions. Subscribe now and stay informed!

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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.