Backdoor roth is too difficult

2 different tax accountants dont know what brackdoor roth is …so I’m afraid they won’t know how to fill out form 8606 correctly… should I just pay into a brokerage instead? Its seems like a hassle…

Find a different tax accountant who is more knowledgeable and capable, OR do it yourself, instructions here:

1 Like

Actually, better than a tax accountant, for these type of planning questions find a financial advisor who is a fiduciary.

2 Likes

I 100% concur with @Mindi , it’s time to either (a) find a different tax professional or (b) find a financial advisor who is a fiduciary. I prefer the latter myself because in my honest opinion they will have a holistic approach to your finances, and should present you with good strategies.

You got this :fist:t5:

3 Likes

It’s actually really easy! If you have Fidelity or Vanguard it is literally a few clicks and you can do the conversion! Below is a link on how to do the conversion! I just opened one up with Fidelity and started the backdoor conversions! The only key step when you open an account is to make sure your cash is sitting in a cash settlement account that is FDIC insured and not a money market account because it’ll start earning interest which you don’t want. Then after a few days once the money is settled then you can start the conversion! And once your funds are in the Roth IRA account don’t forget to invest!

2 Likes

Thank you. This article was very insightful. I will look into this.