A “Back Door” Roth IRA Can Benefit Higher-Income Taxpayers
One of the potential downsides to tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you make withdrawals at retirement. Roth plans, on the other hand, allow tax-free distributions; the tradeoff is that contributions to these plans don’t reduce your current-year’s taxable income. Unfortunately, your employer might not offer […]
