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How to make it, spend it, and invest it

4 Nov 2020

Mastering Money 11/4/20

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Post by MoneyRadio Staff

It seems everyone wants to do a Roth conversion—until it’s actually time to write checks to the IRS!  Roth conversions sound appealing, but they don’t always make sense– according to many CPAs– especially the closer you get to age 70.   That said,  they can be a powerful tax planning technique. The idea behind most Roth conversions is to take money from a substantial IRA account, and convert it systematically to a Roth IRA, getting rid of taxes permanently on that money.   The Tax Cut and Jobs Act lowered taxes, creating a Roth conversion strategy known as “filling the middle brackets.”  We’ll review that strategy, as well as the perfectly legal “Back-Door-Roth” strategy. Then Medicare expert Shelley Grandidge joins us for the Q & A.  A fact-filled show for you today that you surely don’t want to miss…… MASTERING MONEY is on the air!!!