Brad Bobb’s Post

What advisors need to know about tax season Learn more 👇 https://lnkd.in/ec8gCWa7 #Independentfinancialadvisor #Compliance #financialadvisor #finance #money #trading #investment #business #wealth #entrepreneur

How much more do you make with a 401(k) or Roth IRA? It's equivalent to making an extra 1% (!) annual return if you had a regular old after tax account. So ask yourself: Is there anything I could do with my money outside of an IRA that would earn me an extra 1.3% per year? If so, you know where to invest. Any other perks of an after-tax account? How about getting to use your money before you are _approximately dead_... seems like that might be a nice little upside for one or two people out there. Inspired by David Reece.

When to Transition to a Limited Company! Considering the leap from sole trader to a limited company? ✅Reduced Liability: Shield your personal assets. A limited company means less personal liability, safeguarding your finances. ✅Tax Advantages: Enjoy a favorable 12.5% corporation tax rate with a limited company, potentially optimizing your financial strategy. ✅Pension Planning: Navigate distinct pension structures. Sole traders and limited companies differ in pension opportunities, so choose wisely. https://aroundfinance.ie/ #BusinessGrowth #LimitedCompany #FinancialStrategy #AroundFinance

Joseph H. Doerrer CFP®, CPA/PFS, AEP®, MST, with Mezzasalma Advisors goes over the biggest pitfall people have when considering a backdoor Roth contribution. If you have pre-tax money in a traditional IRA, be very careful! I hear about this most often with rollover IRAs from a previous company 401(k). If you have money in those accounts it can trigger a major tax consequence that is easy to miss, so make sure you do your research and/or talk to an expert before you do anything with a backdoor Roth. Check out the full episode at either link below: 🎥 https://lnkd.in/eySNB3an 🎧 https://lnkd.in/gapfzUXH #PodcastEpisode #NewEpisode #BackdoorRoth #RothIRA #FinancialPlanning #PersonalFinance #WealthManagement #TaxPlanning #RetirementPlanning #FinancialAdvisor #MoneyManagement #InvestingTips #CPAInsights #proratarule #FinancialEducation Disclaimer: The information provided is for general informational purposes only and should not be construed as financial, legal, or tax advice. Always consult with a qualified professional before making any financial, legal, or tax-related decisions.

Comment below "Start" 👇🏻 You can turn that dormant $500,000 from your old employer into $100,000 a year, guaranteed, for the rest of your life! Roll this account over into a Fixed index annuity, with no penalties or taxes from the government & turn on the Lifetime Income Rider @ age 65. Comment below "Start" . . . #retire #401k #income #Guaranteed #finance #money

🏗️ Is Your Business Structure Helping or Hurting Your Taxes? 🏗️ Choosing the right structure for your business is crucial for tax optimization and liability protection. From sole proprietorships to S Corps, there’s a structure that fits your needs! 🔑 Thinking about making a switch? It’s possible—but you’ll need to weigh the costs and complexities. #financialplanning #businessowner #buildingwealth #financialplanner #wealth #smallbusiness #genx #geny #buildingtowardswealth #henrys #abundantwealthprocess #stability #financialfulfillment #highearner #strategicfinancialplanning https://lnkd.in/geH-8R2P

I keep my finances simple: + 2 credit cards + 1 checking account + 1 savings account + Solo 401K (pre-tax and after-tax mega backdoor Roth contributions), Roth IRA as a backdoor Roth, taxable brokerage, and an HSA all invested in simple index funds Then I go make more money (the real upside)

super helpful post for anyone trying to be smart with their investments.

BackDoor Roth Conversions It’s been the talk. Not so simple. Some people understand “five year rule” Most don’t know there are 2 “five year rules” Rules?! What Rules 🔐 RULE # 1 applies to the earnings in your Roth IRA. Normally, if you're over 59 ½ years old, you can withdraw these earnings without taxes or penalties. However, there's a condition: your initial contribution to the Roth account must have been made at least five years ago. Rule # 2 applies specifically to backdoor Roth conversions. When you convert funds from a Traditional IRA to a Roth IRA using the backdoor strategy, it is considered a conversion rather than a direct contribution. This means that you cannot withdraw the converted funds from the Roth IRA without incurring penalties for the first five years after the conversion. If you engage in an annual backdoor Roth IRA conversion, YOU MUST wait five years before accessing each converted portion without penalties. Failing to comply with this rule may result in additional penalties on money that has already been taxed. However, there are exceptions to this rule. If you are 59 ½ years old or older, or if you become disabled or deceased, you may be exempt from the five-year waiting period. We understand all of the rules as they are crucial for effectively managing your wealth . If you’d like some guidance, we can help. #wealthmanagement #RothIRA #roth #FinancialDecisions #FiveYearRule #backdoor