Comments on: Unconventional Roth IRA Strategy to Lower Tax Bill http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/ finance. money. action. Fri, 20 Nov 2009 12:02:44 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: Madison http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-7010 Madison Tue, 02 Dec 2008 14:50:07 +0000 http://www.mydollarplan.com/?p=507#comment-7010 @ M: I switch the same funds, so the investment growth would not be changed. @ Erin: I am sacrificing the future tax benefit, however, I will reverse it in the next year that the income is lower. So it's really just moving it back and forth depending on the tax year. @ Mike: I answered your question here: <a href="http://www.mydollarplan.com/roth-ira-q-a/" rel="nofollow">Roth IRA Q & A</a>. @ M: I switch the same funds, so the investment growth would not be changed.

@ Erin: I am sacrificing the future tax benefit, however, I will reverse it in the next year that the income is lower. So it’s really just moving it back and forth depending on the tax year.

@ Mike: I answered your question here: Roth IRA Q & A.

]]> By: Mike http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-5820 Mike Thu, 30 Oct 2008 21:11:21 +0000 http://www.mydollarplan.com/?p=507#comment-5820 What if I earn too much to contribute to a Roth? What if I earn too much to contribute to a Roth?

]]> By: Erin a http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4670 Erin a Thu, 04 Sep 2008 13:12:08 +0000 http://www.mydollarplan.com/?p=507#comment-4670 Sounds interesting but I like to contribute the max to our Roths each year and leave it to mature tax-free. Aren't you sacrificing your future tax benefits, which in our case we expect to be greater for short term sheltering? Sounds interesting but I like to contribute the max to our Roths each year and leave it to mature tax-free. Aren’t you sacrificing your future tax benefits, which in our case we expect to be greater for short term sheltering?

]]> By: M http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4653 M Wed, 03 Sep 2008 06:15:43 +0000 http://www.mydollarplan.com/?p=507#comment-4653 My mind is boggling at this strategy. I like it, but it does suppose that your Roth money is not tied up in stocks, mutual funds, etc. I wonder if that is the case? Or are you willing to trade possible future investment growth for a tax break today? My mind is boggling at this strategy. I like it, but it does suppose that your Roth money is not tied up in stocks, mutual funds, etc. I wonder if that is the case? Or are you willing to trade possible future investment growth for a tax break today?

]]> By: Weekly Roundup Returns: Catching Up Edition | Frugal Dad http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4388 Weekly Roundup Returns: Catching Up Edition | Frugal Dad Fri, 15 Aug 2008 11:02:35 +0000 http://www.mydollarplan.com/?p=507#comment-4388 [...] Unconventional Roth IRA Strategy to Lower Your Tax Bill.   An innovative three-step process to move tax free money to a tax deferred account, along with an illustrative example. [...]

[...] Unconventional Roth IRA Strategy to Lower Your Tax Bill.   An innovative three-step process to move tax free money to a tax deferred account, along with an illustrative example. [...]

]]> By: Don't Mess With Taxes http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4297 Don't Mess With Taxes Mon, 11 Aug 2008 15:13:02 +0000 http://www.mydollarplan.com/?p=507#comment-4297 <strong>Tax Carnival #39: Dog Days of Summer 2008...</strong> Here we are, smack dab in the middle of the dog days of summer. It's hot (so far here in Austin, we've had 46 days of 100 degree or higher temps) and although I'm dog tired, I'm dogged by a ton of things still nipping at my heels. That's why this ...

Tax Carnival #39: Dog Days of Summer 2008…

Here we are, smack dab in the middle of the dog days of summer. It’s hot (so far here in Austin, we’ve had 46 days of 100 degree or higher temps) and although I’m dog tired, I’m dogged by a ton of things still nipping at my heels. That’s why this …

]]> By: How to Live More Simply, and Why It Is So Important | Frugal Dad http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4292 How to Live More Simply, and Why It Is So Important | Frugal Dad Mon, 11 Aug 2008 11:01:09 +0000 http://www.mydollarplan.com/?p=507#comment-4292 [...] your lifestyle.   Do you have six Roth IRA accounts with five different brokerages?  Are your insurance policies scattered around three or four [...]

[...] your lifestyle.   Do you have six Roth IRA accounts with five different brokerages?  Are your insurance policies scattered around three or four [...]

]]> By: Weekend Linkage - August 10, 2008 http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4290 Weekend Linkage - August 10, 2008 Mon, 11 Aug 2008 03:41:35 +0000 http://www.mydollarplan.com/?p=507#comment-4290 [...] Unconventional Roth IRA Strategy to Lower Tax Bill Madison offers tax saving strategy in Roth IRA accounts. [...]

[...] Unconventional Roth IRA Strategy to Lower Tax Bill Madison offers tax saving strategy in Roth IRA accounts. [...]

]]> By: Roundup: Cactus flower edition « Funny about Money http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4288 Roundup: Cactus flower edition « Funny about Money Sun, 10 Aug 2008 19:34:13 +0000 http://www.mydollarplan.com/?p=507#comment-4288 [...] and planning ways to keep their outing frugal. And My Dollar Plan offers an interesting strategy to use your Roth IRA to help lower your tax bill. Possibly related posts: (automatically generated)Summer has begun…..Happy Humping Day!Scenes [...]

[...] and planning ways to keep their outing frugal. And My Dollar Plan offers an interesting strategy to use your Roth IRA to help lower your tax bill. Possibly related posts: (automatically generated)Summer has begun…..Happy Humping Day!Scenes [...]

]]> By: Who Let The Dogs Out? Plus Debt Reduction Steps http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4287 Who Let The Dogs Out? Plus Debt Reduction Steps Sun, 10 Aug 2008 16:45:08 +0000 http://www.mydollarplan.com/?p=507#comment-4287 [...] Dollar Plan brings up an unconventional Roth IRA strategy to lower your tax bill. Madison really thinks outside of the box on this [...]

[...] Dollar Plan brings up an unconventional Roth IRA strategy to lower your tax bill. Madison really thinks outside of the box on this [...]

]]> By: The Digerati Life http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4284 The Digerati Life Sun, 10 Aug 2008 05:56:21 +0000 http://www.mydollarplan.com/?p=507#comment-4284 Okay, I'd love to be able to take advantage of strategies like this, but I'm afraid, I'm not the best of record keepers. What I'd love to hear about is how you're able to organize and track your records so meticulously. If you've written about this already Madison, I'd appreciate links to those posts! I really need to figure out a better way to stay more organized. I have actually kept our finances very simple and straightforward and I don't do much rejiggering of my accounts for fear I'd just confuse myself ;) . But as it is, I really don't enjoy trying to remember if $X amount of dollars is converted, or if I need to contribute $Y amount of dollars to make up for the $X amount I just moved.... stuff like that makes my head spin! :) As mentioned, if you have coverage on how you're able to track your accounts (credit card and financial) so well, I'd so love to hear more about it! What tool do you use? Just excel? Did you customize your formulas? etc.... Okay, I’d love to be able to take advantage of strategies like this, but I’m afraid, I’m not the best of record keepers.

What I’d love to hear about is how you’re able to organize and track your records so meticulously. If you’ve written about this already Madison, I’d appreciate links to those posts! I really need to figure out a better way to stay more organized. I have actually kept our finances very simple and straightforward and I don’t do much rejiggering of my accounts for fear I’d just confuse myself ;) .

But as it is, I really don’t enjoy trying to remember if $X amount of dollars is converted, or if I need to contribute $Y amount of dollars to make up for the $X amount I just moved…. stuff like that makes my head spin! :)

As mentioned, if you have coverage on how you’re able to track your accounts (credit card and financial) so well, I’d so love to hear more about it! What tool do you use? Just excel? Did you customize your formulas? etc….

]]> By: Madison http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4275 Madison Sat, 09 Aug 2008 11:54:46 +0000 http://www.mydollarplan.com/?p=507#comment-4275 @ David: I just thought of something... For 1099 income, if you are an LLC, you could use a SEP-IRA to do the same thing as the 401k. It actually might be easier since you wouldn't have to sign up for payroll deductions. I'm going to think about this one a little more... @ David: I just thought of something… For 1099 income, if you are an LLC, you could use a SEP-IRA to do the same thing as the 401k. It actually might be easier since you wouldn’t have to sign up for payroll deductions. I’m going to think about this one a little more…

]]> By: David http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4268 David Fri, 08 Aug 2008 16:45:27 +0000 http://www.mydollarplan.com/?p=507#comment-4268 Wow, now that is thinking outside the box. Very interesting Madison - unfortunately for me, all my income is 1099'd. But for those of you having money taken out of your paycheck for your 401K, this looks very interesting! Wow, now that is thinking outside the box. Very interesting Madison – unfortunately for me, all my income is 1099′d. But for those of you having money taken out of your paycheck for your 401K, this looks very interesting!

]]> By: Personal Finance Buzz http://www.mydollarplan.com/unconventional-roth-ira-strategy-to-lower-tax-bill/#comment-4252 Personal Finance Buzz Thu, 07 Aug 2008 14:31:32 +0000 http://www.mydollarplan.com/?p=507#comment-4252 <strong>Personal Finance Buzz...</strong> Your story was featured in Personal Finance Buzz! Please visit and promote your article....

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