Ep 39:Unlocking the Backdoor: A Guide to Roth IRA Contributions
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We discuss the intricacies of Backdoor Roth IRAs, a popular strategy for high earners to contribute to Roth IRAs despite income limits.
We explore the mechanics of the Backdoor Roth and the Mega Backdoor Roth, including eligibility, contribution limits, and tax implications.
We also cover the importance of understanding 401k options, the pro rata rule, and key considerations for executing a Backdoor Roth conversion effectively.
We address work visa considerations when looking to complete a back-door role or a direct contribution.
We help you think through whether this is for you or not based on your work visa, your country of origin, and where you are likely to be when you finally withdraw the money.
We finally address the biggest mistakes we see when people DIY backdoor roth and the tax preparation that comes after that.
Episode Links & Resources
Are you Tax-compliant With Your Overseas Assets? - Free Guide - Scroll to the bottom of the page.
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
Ep 40: What is English for "Top 10 Cross-Border Tax Blunders"?
Ep 38: What Is English For "IRA's"?
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About the Show
Hosted by Jane Mepham, CFP® & Manasa Nadig, EA
The International Money Café Podcast addresses the unique financial, tax, and life challenges faced by foreign-born individuals, foreign nationals on work visas, and U.S. expats living outside the U.S.
Every episode will give you tips to pursue your American dream while staying tax compliant and saving you hours of combing the internet for information relevant to your situation.
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