The back door rothiray and the mega back doorrothiray are gone. After this year, i f this bill passes in its current form, they're gone. The whole point of forming an s corp so you don't have to pay pay roll taxes on the portion of your income that you call a distribution rather than salary. So there's really no point, if this goes through like this, to bein an escort and us.
There are potential big changes coming up as a new tax bill is working its way through Congress. While there are sure to be many changes to the proposed bill before it becomes law we wanted to dive into how this bill will affect the WCI community. One of the biggest impacts is that backdoor Roth IRA and mega backdoor Roth IRA accounts could be gone for good. There are proposed changes to income tax brackets and required minimum deduction rules. We look into these changes and many others that could be coming our way.
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