In 2023, SEP IRA in plan conversions will seemingly be available. The real decision here is are you going to roll this in to the tax deferred part of your 401k and avoid taxation on it? Because there's a big tax cost. If you convert $150,000, you're probably paying 50 grand in taxes on that Roth conversion. So you've got to make sure that is really the right move for you.
We have continued to get a lot of your questions about all things Roth so we are dedicating another episode to your Roth questions. We answer questions about SEP IRA conversions, Roth IRA contributions, Roth contributions in a 401(k) vs. a backdoor Roth, Mega Backdoor Roth questions, how taxes affect Roth conversions and more!
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