Say you prefer the Roth retirement account.

If your income is too high to contribute to a Roth IRA, the backdoor Roth allows you to contribute to a traditional IRA and then convert that traditional IRA contribution of $7,000 ($8,000 if age 50 or over) to a Roth.1

But if you have no employees and operate your business as a corporation or a sole proprietorship, you may want to utilize the mega backdoor Roth and invest up to $70,000 ($77,500 if you are age 50 or over). You can also accomplish this as a partner when the ... Log in to view full article.