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Enter into a Roth IRA through the ‘back door’

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in Centerpiece,Small Business Tax,Small Business Tax Deduction Strategies

Certain taxpayers can’t make annual contributions to a Roth if their income is too high. But there’s a clever way to get around this obstacle. Go in through the “back door”: Make nondeductible contributions to a traditional IRA and then convert that IRA into a Roth IRA.

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