All Forum Posts by: Brandy Y.

Michael Lauther
See link below for how to do it and more details. Also see caveats above

http://thefinancebuff.com/the-backdoor-roth-ira-a-complete-how-to.html
Its important to follow step 1 mentioned in the link, cause if not - your conversion will be taxed by the percentage of pretax money in all IRAs (the “pro-rata rule”).
If your Roth IRA conversion comes primarily from your non-deductible contributions, there will be very little taxes on the conversion.

Disclosure: Iam not a CPA, I learn stuff to protect money from being taxed.
A dollar saved is more than a dollar earned.

Hi Bryan
Yes , what steven described is the backdoor method.
Essentially in years when you don't qualify for Roth based on AGI --> put 5k in a regular ira and then roll it over to a roth ira.
So you bypass the AGI restrictions of contributing to a roth.

Steven Hamilton II

I believe if you do a backdoor Roth , you are not limited by MAGI.

A Backdoor Roth IRA is a technique for contributing to a Roth IRA when your income exceeds the contribution limit. There is no income limit on contributing to a nondeductible Traditional IRA, nor on converting a Traditional IRA to a Roth IRA.
To make a backdoor contribution, first make a regular contribution to a Traditional IRA with your IRA custodian. You do not specify to the custodian whether the IRA is deductible or not; it is just treated as an IRA. As soon as the contribution posts, convert to a Roth IRA.

Caveat
If you have any other (non-Roth) IRAs, the taxable portion of any conversion you make is prorated over all your IRAs; you cannot convert just the non-deductible amount. In order to benefit from the backdoor, you must either convert your other IRAs as well (which may not be a good idea, as you are usually in a high tax bracket if you need to use the backdoor), or else transfer your deductible IRA contributions to an employer plan such as a 401(k) (which may cost you if the 401(k) has poor investment options).

As regarding its legality and use, its been used for a long time now. And the IRS is aware of this and considers it legal.
Some news articles
http://www.forbes.com/sites/ashleaebeling/2012/01/20/the-serial-backdoor-roth-a-tax-free-retirement-kitty/
http://online.wsj.com/article/SB10001424052702304072004577325551162426954.html
"The Internal Revenue Service hasn't raised any red flags on backdoor Roths that are properly reported on form 8606. According to a spokesman: "The law is pretty clear on this issue."

More details
http://thefinancebuff.com/the-backdoor-roth-ira-a-complete-how-to.html

Was reading thru the "financial samurais" posts. Read another post he had

http://www.financialsamurai.com/2011/02/10/grades-dont-matter/

Socialism is when there is no personal responsibility and no reward for hard work. You are willing to help your 2.0 GPA classmate who parties all night by giving her 1.0 of your 4.0 GPA so both of you can have a chance with your 3.0s. As a result, everybody will eventually stop working hard in order to gain benefits from others, and tremendous progress will be made.

Was so funny , except that there's possibly some who believe in that.

@joshua , have found it fickle at times , myself
as you see an example

Check out WIDI (wireless display) technology.

http://www.intel.com/content/www/us/en/architecture-and-technology/intel-wireless-display.html

Be aware that there are more laptops with widi tecchnology on the market, than those listed on intel site.
You would also need an adaptor ,as listed on the page..push2tv 200o seems good.
http://www.netgear.com/home/products/hometheater/media-players/PTV2000.aspx#

So basically after that , anything thats on internet/in your laptops dvd player , will play on tv. Also services like netflix, Hulu /Hulu plus etc.

that was my being sarcastic ;)

? basic economics (at individual/corporate/govt levels)
If expenses > income, the end result is? Bankruptcy.

No amount of “creative book keeping” aka fixing the books is going to stop the inevitable.
Short term option, until the money runs out is raise tax/find more tax sources.

"When the FBI went in to take down the hackers late last year, agents realized that if they turned off the malicious servers being used to control the computers, all the victims would lose their Internet service.

In a highly unusual move, the FBI set up a safety net. They brought in a private company to install two clean Internet servers to take over for the malicious servers so that people would not suddenly lose their Internet."

The infected computers have been "calling home" to the FBI servers for a while. ;-|

fox news
http://www.foxnews.com/tech/2012/04/23/how-to-avoid-july-internet-doomsday-fix-dnschanger-malware/
cnn
http://money.cnn.com/2012/07/06/technology/dnschanger/index.htm
msnbc
http://www.technolog.msnbc.msn.com/technology/technolog/july-9-could-be-internet-doomsday-some-so-check-your-736963

Your pick ;)