This chapter explores the tax deduction eligibility for traditional IRA contributions for high-income couples, focusing on a scenario where one spouse is a stay-at-home parent and the couple exceeds the income limits for married filing jointly. The speaker provides insights on deductibility for traditional IRA contributions and compares it to backdoor Roth conversions.
Today Dr. Dahle is answering all of your questions about taxes. He talks about FICA taxes, quarterly estimated payments, IRA contributions and tax deductions, paying taxes when you work in two states in one year, how to make your tax situation as efficient as possible and more.
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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!
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