#516 Tax Lawyer Q&A: Strategies To Save You THOUSANDS In Taxes
Main Street Business
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Navigating Roth Conversions and Tax Strategies
This chapter addresses a listener's inquiry about converting a traditional 401k into a Roth IRA before retirement, highlighting the tax implications and the practicality of using home sale proceeds to cover conversion taxes. It also explores various tax strategies for rental properties, partnerships, and Health Savings Accounts (HSAs), offering insights into ownership structures and their advantages. Additionally, the episode touches on young entrepreneurship, providing guidance for a child interested in starting a food truck while emphasizing market testing before formalizing business arrangements.
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