Today news
About the same in other media
Backdoor Roth 401(k) and IRA rules for the wealthy survive — for now
Reading now: 644
cnbc.comThe «backdoor Roth» tax strategy used largely by wealthy retirement savers and slated to be killed next year has survived — for now.
The loophole lets rich 401(k) and individual retirement account owners save in a Roth-style account, shielding future investment growth from tax. Roth accounts are generally off-limits to such investors due to an income cap.
Democrats aimed to end the rules starting in 2022 as part of the Build Back Better Act, a roughly $1.75 trillion package of climate and social investments coupled with changes to the tax code aimed at rich Americans.
More from Personal Finance:How to refresh your home office as return-to-work plans stallProposed Medicare changes in trouble as legislation stallsHow credit card debt imperils
Read more on cnbc.comAbout this in other media
Elizabeth Holmes trial: Former Theranos CEO convicted of fraud and conspiracy euronews.com /2 years ago
Former Theranos CEO Holmes convicted of fraud and conspiracy euronews.com /2 years ago
Virginia Giuffre: Settlement between Jeffrey Epstein and Prince Andrew's accuser released euronews.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
