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the backdoor R Ira can best be described as a tax loophole that allows investors that are barred from investing in a r Ira to actually invest in a rough IRA just not directly it is a surprise to me that the IRS has not banned this tax strategy as it is highly effective at minimizing the tax liability from Investments and it is surprisingly easy to do once you have the proper knowledge of it in this video I'm going to tell you exactly what you need to know about the backdor IRA and show you the specific steps needed to actually take a traditional IRA and convert it to a Roth IRA which is the backdoor rth Ira in 1997 Congress passed the taxpayer Relief act into law which established the rth IRA as an investment vehicle and allowed for tax-free growth and tax-free qualified withdrawals at the time posting this video in 2024 the maximum contribution to cumulatively to a rough or traditional Ira is just $7,000 and the taxpayer Relief act actually set contribution limits on People ba

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