The backdoor and mega-backdoor Roth IRA contribution/conversion might be extinct after 2021. As part of the Democrats’ House Ways and Means proposal, Roth IRA conversions of after-tax contributions will not be allowed starting in 2022.
The American Rescue Plan has passed the House and the Senate. Read this blog post to learn what steps you can take today to make sure you qualify for the next round of stimulus payments!
3 Ways to Reduce Your Tax Bill with your Philanthropy