Backdoor Roth IRA
Currently, it looks like the tax rate will be going up, especially for those in the higher brackets. If rates are expected to be higher when you retire than what they are now, Roth IRAs should be a part of your tax planning conversation. The problem is that if your income is too high right now, the amount that you can contribute to these accounts may be limited.\n\nHawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. \n\nLearn more at https://HawkinsAshCPAs.com/.\n\nListen to more of the Tax Insights Podcast at https://hawkinsashcpas.com/cpa-hq/podcast/.