Tax Goals - Convert to Roth

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[camelaMar]

One of the biggest reasons to consider a Roth conversion is to take advantage of lower tax rates. With the current tax environment, especially after the Tax Cuts and Jobs Act of 2017, many people are in lower tax brackets than they might be in the future. Converting now could mean paying less in taxes compared to what you’d owe later

[Deitricklaverne]

Exactly And let’s not forget about Required Minimum Distributions (RMDs). If you have a large traditional IRA, those RMDs could push you into a higher tax bracket in retirement. By converting some of that money to a Roth now, you can reduce the amount subject to RMDs later, which could help keep your taxable income lower

[yaakovgurzhiev]

Who do you have in the state of Colorado to contact for taxes?

[Delighted-em]

I need you to teach me how to setup my llc

[jackgucci]

Mark love your content. Any advice for the following: 2 married physicians doing contract work with multiple hospitals (1099) in southern CA, combined gross income > 400-500k per year, 2yo child, renting home, 300k student loans (combined), husband is also a w2 for a private group, wife does a lot of work from home - what are your best practice for setting up our business in this situation ( s Corp, trifecta, 401k, hsa, buying house, investing in real estate, college funds)

[Mabrams]

Hi Mark. Absolutely love your content. THANK U for the valuable information. I now know it’s better to convert to Roth regardless of the tax bracket, but is it even better to pay the tax penalty & put it in a cash value whole life insurance policy? Thx in advance!