Last Chance for the Backdoor Roth IRA
Mom and Dad Money
by Matt Becker
2y ago
Congress has recently proposed new tax laws that, among other changes, would eliminate the Backdoor Roth IRA strategy beginning in 2022. We don’t know for sure whether these proposals will be passed into law, but this provision in particular seems likely. What does that mean for you? If you’d like to execute a Backdoor Roth IRA for 2021, or if you need to complete the process for prior years, the smart move is likely to do so before December 31. Otherwise, you may miss out on your last opportunity. For more on the Backdoor Roth IRA and how it works, you can read the following post: The Backdo ..read more
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9 Smart Ways to Use Your Tax Refund
Mom and Dad Money
by Matt Becker
5y ago
It’s that time of year when people are getting their tax refunds. Maybe you’ve already received yours or maybe, like me, you’re still waiting on it. Or maybe you still need to file your taxes. (If that’s you, get on it! The deadline is April 15.) Wherever you stand, your tax refund is a good opportunity to make big progress towards one or more of your financial goals. So, how can you make the most of that money? Below are nine ideas that can help you secure your financial foundation and build towards the future. By the way, these same ideas apply any time you have a sudden influx of money. It ..read more
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