The Backdoor Roth IRA Is Better Than Ever Right Now
The Roth IRA is the best way to take advantage of current low income tax rates. With the tax reform efforts that became effective in 2018 cutting rates to their lowest levels in years, investors got an opportunity to forego less valuable current tax breaks in exchange for the long-term tax benefits that Roth IRAs offer.
However, not everyone is allowed to contribute to a Roth IRA directly. For them, the only way into a Roth is through the back door -- with a strategy appropriately known as the backdoor Roth. Below, we'll give you all the details on how you can use this tax-saving strategy, along with an explanation of why now's the perfect time to get started.
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Source Fool.com
