Here’s how to complete the backdoor Roth maneuver: Step one, ensure you don’t have any other IRA money. Step two: contribute to a contributory IRA, don’t deduct it, and then convert to your Roth the next day. Boom, you have now made a Roth IRA contribution with no tax consequence and skirted income limits… legally!
Sound illegal, but it isn’t! Just listen to all the benefits that will save you money!
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