Year-End Roth IRA Planning

October 28, 2021

With the impending tax changes, there are several year-end planning strategies for Roth IRAs. Congress has proposed ending Backdoor Roth and Mega Backdoor Roth contributions which means this year may be the last time to take advantage of these strategies. With tax rates at historically low levels, it may be more advantageous to make Roth conversions now versus in the future. Additionally, the CARES Act set higher limits for charitable deductions in 2020 and 2021 which can help offset the tax expense associated with Roth conversions.

At Brandywine Oak, we guide our clients through the intricacies of the tax code to help ensure the success of their long-term financial goals. To learn more about these proposals, please read ThinkAdvisor’s

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