Backdoor Roth IRA: The High-Income Workaround (And the Trap to Avoid)
High earners can't contribute directly to a Roth IRA — but the backdoor strategy offers a legal workaround. Learn the steps, Form 8606, and the pro-rata trap.
John C Thompson, EA
Category: Retirement Planning
3 posts
Inherited IRA: What the 10-Year Rule Means for You
The SECURE Act changed inherited IRA rules for most beneficiaries. Learn the 10-year rule, who still qualifies for the stretch, and why tax planning matters.
John C Thompson, EA
New $6,000 Senior Deduction: What You Need to Know for 2025
The new $6,000 senior deduction provides automatic tax relief for those 65 and older, but income thresholds affect multiple retirement benefits. Learn the basics and when to seek professional help.
John C Thompson, EA