Artwork for podcast Small Business Financial Podcast
What is a Backdoor Roth?
Episode 516th June 2022 • Small Business Financial Podcast • Greg Shepard
00:00:00 00:19:32

Share Episode

Shownotes

In this episode, your host Greg Shepard, shares with you an awesome strategy that's seldom used and often misunderstood.

Most small business owners have heard of a Roth IRA, but have you heard of a Backdoor Roth?

Maybe your MAGI (adjusted gross income) is more than what's allowed for you to deposit directly to Roth IRA.....

Listen as Greg shares with you who would benefit the most from this strategy and how you can get those Traditional monies over to your Roth account.

Learn about a little known rule, Pro Rata Rule, that could certainly trip you up if you don't plan accordingly and why it's vital you coordinate with your CPA planner and competent financial advisor when implementing this strategy.

Lastly, listen as Greg walks you through an example of the Backdoor Roth strategy to help you understand the logistics of the process.

Greg is a financial advisor at S&A Financial Services, Inc. and specializes in working with small business owners and their CPA's in providing proactive / wholistic financial solutions.

Other Resources:

Podcast Episode: What is a Simple IRA Plan?

Podcast Episode: Who Can Contribute to SEP IRA?

Small Business Financial Podcast

www.safianncialservices.com

greg@shepardfinancial.com

Links