Why Not to Do a Roth Conversion in 2022
Roth has been a buzzword in the industry since its creation, and 2021 shined an even brighter light on it. Between Peter Thiel’s $5 billion Roth account and political fighting over back-door Roth contributions in the proposed Build Back Better legislation, this topic is top-of-mind for consumers and advisors. But the focus has been on how to get as much money in a Roth as possible, but that is not a universally great idea.
Recommended Articles
5 Reasons Software Can’t be Trusted
“Well, the software let me do it.” This sounds more like something you’d hear from siblings fighting than from a professional. Unfortunately, taxpayers, tax preparers, and financial advisors all have […]
Read More
Advisor Tax Mistake #3 – Skipping the Three Most Important (But Least Sexy) Tax Strategies
When it comes to financial advisors and tax strategies, they often sound like old fishermen telling the story of “the one that got away,” except the stories are about ultra-obscure tax strategies that they have never used. This tendency to tell stories about the tax strategies that got away is so prolific that anytime an advisor approaches me about a tax scenario, I immediately ask for the name of the client to ensure we are talking about real life versus tax fantasyland.
Read More
5 Reasons CPAs Aren’t Referring Their Clients To You
Retirement Tax Planning through Capital Gains Harvesting Capital gains can be an exciting topic. In simple terms, it means that investments worked out well for clients whose advisors recommend capital
Read More
