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re: Bonus - Tax Implications
Posted on 7/2/14 at 12:30 pm to krehn11
Posted on 7/2/14 at 12:30 pm to krehn11
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.
1
Posted on 7/2/14 at 1:47 pm to ISDSTiger
Thanks. I'm in a similar situation as the OP and this helps a lot. I do worry about what happens when they close the loophole though... think the IRS would put some sort of "clawback" for the high earners that took advantage of this?
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