It’s surprisingly simple to over contribute to a Roth IRA.

If you earn too little, part of your contributions could be considered excessive. If you earn too much (like a year-end bonus), you may be ineligible. Or, if you’re like our podcast listener Kevin, you may decide to file separately from your spouse with creates an entirely different dilemma.

Listen to learn:

• Why the IRS does NOT want you to file taxes separately from your spouse
• How taxes are calculated on excess Roth IRA contributions
• When to remove contributions by to avoid tax penalties
• What happens if you do not remove excess contributions
• Why it’s crucial to keep a record of your contribution removal

Need help with important financial decisions?

Eventually, DIY just won’t cut it anymore. Reach out today to schedule a call with Josh (OG), a CFP® and co-host of the top financial podcast Stacking Benjamins: [ Ссылка ]

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