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backdoor Roth -- is it still valid?
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anoop
Apr 15, 2015, 11:05:04 PM4/15/15
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I came across this article:
http://www.forbes.com/sites/ashleaebeling/2015/02/02/obama-budget-would-prohibit-backdoor-roth-iras/
which says that the backdoor Roth loophole may be closed by new legislation.
What's the best way to track this issue?
Also, would it be better to wait on contributing to a non-deductible IRA? Until the backdoor Roth, I wasn't bothering contributing to a non-deductible IRA because I felt it would increase the complexity of data that I would need to track for decades.
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http://www.forbes.com/sites/ashleaebeling/2015/02/02/obama-budget-would-prohibit-backdoor-roth-iras/
which says that the backdoor Roth loophole may be closed by new legislation.
What's the best way to track this issue?
Also, would it be better to wait on contributing to a non-deductible IRA? Until the backdoor Roth, I wasn't bothering contributing to a non-deductible IRA because I felt it would increase the complexity of data that I would need to track for decades.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2011) - All rights reserved. >>
<< ------------------------------------------------------- >>
Alan
Apr 18, 2015, 5:05:03 PM4/18/15
to
On 4/15/15 8:04 PM, anoop wrote:
> I came across this article:
> http://www.forbes.com/sites/ashleaebeling/2015/02/02/obama-budget-would-prohibit-backdoor-roth-iras/
> which says that the backdoor Roth loophole may be closed by new legislation.
>
> What's the best way to track this issue?
>
> Also, would it be better to wait on contributing to a non-deductible IRA? Until the backdoor Roth, I wasn't bothering contributing to a non-deductible IRA because I felt it would increase the complexity of data that I would need to track for decades.
>
Yes, the "backdoor" Roth is still available. Eliminating it is part of
> I came across this article:
> http://www.forbes.com/sites/ashleaebeling/2015/02/02/obama-budget-would-prohibit-backdoor-roth-iras/
> which says that the backdoor Roth loophole may be closed by new legislation.
>
> What's the best way to track this issue?
>
> Also, would it be better to wait on contributing to a non-deductible IRA? Until the backdoor Roth, I wasn't bothering contributing to a non-deductible IRA because I felt it would increase the complexity of data that I would need to track for decades.
>
the President's budget that addresses closing loopholes. Closing
loopholes is another way of saying "here's some income to pay for the
additional spending".
One way to stay abreast of any tax legislation is KPMG's legislation
updates published in their TaxNewsFlash.
https://www.kpmg.com/US/en/IssuesAndInsights/ArticlesPublications/taxnewsflash/Pages/2014-1/legislative-updates.aspx
--
Alan
http://taxtopics.net
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