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      02-24-2020, 07:42 PM   #110
XKxRome0ox
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Drives: '08 E90 M3
Join Date: Mar 2012
Location: Los Angeles, CA

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Quote:
Originally Posted by roastbeef View Post
there is zero taxes to be paid in a backdoor roth. my wife and i each max out a roth each year. i write a check to my guy and he just does it. not complicated at all on our end.
hmmm
how?

is it because if you are past a certain income level, you can't get tax deduction for the traditional IRA contribution anyway? so you're already taxed on the money so it avoid being taxed on the back end?

i'd check to make sure 100% how it works
because you don't want to put away all this money thinking you're going to take your money out of a "Roth" and then end up owing taxes
(i'm genuinely asking because i've kinda heard about this "backdoor Roth IRA" thing and want to do it as well)
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2008 E90 M3 / LCI trunk + euro tail swap

Production date - 2008-04-22
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