Clients often ask us if they can convert to a Roth IRA if they earn too much to contribute. If you or your spouse have high-income levels such that you are not eligible to contribute directly to a Roth IRA and you do not already have a traditional IRA, then you might want to consider opening a traditional IRA and making a nondeductible contribution, then converting it to a Roth IRA. This strategy is sometimes called a “backdoor Roth contribution.”
We Offer Comprehensive Retirement Tax Planning Services
At Losavio & DeJean, LLC, The Louisiana Elder Law Firm, we understand that planning for retirement taxes is a major concern for many people. Our dedicated legal team is here to use our years of experience to help you solve your complicated tax issues so you can secure financial security and peace of mind.
When you choose our firm to represent you, we will:
- Take the time to review detailed strategies to resolve your tax issues and protect your assets
- Correctly calculate your tax liability
- Explore options for settling your tax obligation for less than what you owe
If you would like more information on converting to a Roth IRA, then please get in touch with our Louisiana Board Certified Tax Law Specialist and Louisiana Certified Public Accountant. Call (800) 835-5864 today for a complimentary consultation.