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re: Bonus - Tax Implications

Posted on 7/2/14 at 10:59 am to
Posted by krehn11
IA
Member since Jul 2011
1486 posts
Posted on 7/2/14 at 10:59 am to
Maxing a Roth IRA would have no implication on his tax situation.

In addition, if he is doubling his salary, and is already maxing Soc. Sec. his income would be too high for funding a Roth.
Posted by ISDSTiger
Member since Sep 2006
5071 posts
Posted on 7/2/14 at 12:30 pm to
quote:

In addition, if he is doubling his salary, and is already maxing Soc. Sec. his income would be too high for funding a Roth.


You are correct, but he could simply use the backdoor contribution for high earners.
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