Today, Dr. Jim Dahle is answering all of your questions about taxes. He talks about FICA taxes, quarterly estimated payments, IRA contributions and tax deductions, paying taxes when you work in two states in one year, how to make your tax situation as efficient as possible, and more.

In This Show:

When Are IRA Contributions Tax-Deductible?

“Hi, Dr. Dahle. I’m currently a physician working full-time, and my spouse is a stay-at-home parent. My question is, are his traditional IRA contributions still tax-deductible, even if we make more than the Modified Adjusted Gross Income limit for a married couple filing jointly. The way I read it, it appears that they would be. However, my Backdoor Roth or traditional Roth to Backdoor conversion obviously would not be tax-deductible. Let me know if you think I’m interpreting this correctly.”

This is actually an incredibly complicated question, and it’s

Keep reading this article on The White Coat Investor.

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