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11min chapter
Tax Strategies for Financial Freedom | Wealthy Accountant (Replay)
The Financial Independence Show
Maximizing Retirement Account Contributions and Tax Strategies
Exploring contribution limits and tax strategies for retirement accounts, this chapter covers topics like SEP profit sharing, backdoor Roth IRAs, and maximizing contributions up to the $56,000 cap, with a focus on individuals over 50. It also delves into tax-efficient structures for business owners, emphasizing prudent compensation, 401k contributions, and profit-sharing. Additionally, the segment discusses advanced strategies like mega backdoor Roths and converting traditional IRAs to Roth IRAs for tax-free growth potential.
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