high income taxpayers

Planning for Net Investment Income Taxes

Planning for Net Investment Income Taxes

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the NIIT? You’re potentially liable

Sonya Foster2023-12-12T11:17:13-07:00December 12th, 2023|

A “Back Door” Roth IRA Can Benefit Higher-Income Taxpayers

A “Back Door” Roth IRA Can Benefit Higher-Income Taxpayers

A potential downside of tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you make withdrawals at retirement. Roth plans, on the other hand, allow tax-free distributions; the tradeoff is that contributions to these plans don’t reduce your current-year taxable income. Unfortunately, your employer

Sonya Foster2021-04-12T14:58:02-06:00June 20th, 2017|