Unlocking Retirement Wealth: The Power of the Solo 401(k) and Backdoor Roth IRA When it comes to investing for retirement, there’s a plethora of choices at our disposal. The options may range from traditional IRAs, 401(k)s, and Roth IRAs, to lesser-known alternatives such as the Solo 401(k) and Backdoor Roth
One tax strategy that may not be as well-known is the ability to rent out your personal residence without recognizing the income. Otherwise known as the āAugusta Ruleā or āMasters Exemption,ā this provision allows you to rent out your personal residence without having to report the income on your personal