Income Limits
A single client, living in Arizona, is currently working for a company that does not offer a retirement plan. His current income is $ 175,000.00. Do the “Income Limit” rules still apply should he consider contributing to either a Traditional or Roth IRA?
Permalink Submitted by Alan - IRA critic on Fri, 2023-10-27 02:31
Client’s MAGI is too high for a regular Roth IRA contribution, but he can make a TIRA contribution and convert it. If he has no other TIRA balance, best to make the TIRA contribution non deductible.