Backdoor Roth IRA: The Ins & Outs

Backdoor Roth IRAs are a great strategy for the right individual and when done correctly.

Veterinarians, with high incomes and a greater likelihood of filing taxes separately, make great candidates to utilize this strategy and take advantage of tax-free withdrawals in retirement.

The full video is presented in a webinar type format to help educate on the benefits of a Roth IRA, who makes a good candidate for the backdoor strategy, the steps to take when completing, and how to review/input information to ensure the tax reporting is done correctly.

If you already contributing and converting, the second half of the video (and also a standalone video on the YouTube page) walks through the prompts on TurboTax on how to enter using your 1099-R, and also what to check for on Form 8606 and Form 1040 to ensure you are not being taxed.

**This information & video is for educational purposes. Please speak with a qualified financial or tax professional**