The IRA Mistake That Could Get You Taxed Twice
In this video, Eric breaks down one of the most common—and costly—retirement planning mistakes: mishandling non-deductible IRA contributions. If you’re a high-income earner using the backdoor Roth strategy or have made after-tax contributions to a traditional IRA, you could be at risk of paying taxes twice on the same dollars. He covers: Why the IRS won’t track your after-tax IRA basis for you How the “pro rata rule” complicates Roth conversions How to avoid double taxation and protect your retirement savings Don’t let a paperwork mistake cost you thousands in retirement! Learn how thoughtful planning gives you peace of mind, control, and confidence in your financial future. Call us at 920-672-4232 or go to https://www.meritfinancialadvisors.co... Timestamps: 0:00 The Double Taxation Risk 1:19 Understanding Non-Deductible IRA Contributions 2:35 Backdoor Roth Strategy Explained 3:22 The Pro Rata Rule 6:14 Tracking Contributions with Form 8606 9:42 Fixing Past Mistakes - - - - - - - - - - - - - Always remember, "You Don't Need More Money; You Need a Better Plan" 🍿 Subscribe to our channel: https://www.youtube.com/channel/UCVMA... 🏆 Join our Weekly Email Series: https://bit.ly/weekly-email-series 📈 Talk with us about your retirement plan here: https://www.meritfinancialadvisors.co... 📚 The New 60/40: How the Next Generation of Retirees Can Achieve Radical Financial Freedom through Better Safe Investing - https://www.amazon.com/New-60-Generat... Merit Financial Advisors - Headquarters 2400 Lakeview Pkwy, Suite 550 Alpharetta, GA 30009 For more information, please visit www.meritfinancialadvisors.com. Full Disclosure: Nothing on this YouTube video should be considered advice, research, or an invitation to buy or sell securities. For a full disclaimer, please refer to the terms and conditions in our firm brochure. Investment advice offered through Merit Financial Group, LLC, an SEC-registered investment adviser. #RetirementPlanning #IRATaxes #BackdoorRoth #DoubleTaxation #FinancialPlanning #WealthManagement #TaxStrategy #Form8606 #RetirementSavings #TaxTips #MeritFinancialAdvisors #EricSajdak #WealthManagement
Ed Slott Breaks Down Every Roth Conversion Objection — What You NEED to Know
The Roth IRA 5-Year Rule Could Cost You Thousands — Here's How It Works
Hjalmar Schacht: How One Banker Created Nazi Germany’s Economic Miracle Documentary
Inflation, Déficits, Taux d’intérêt : Attention danger immédiat !
The Most Underrated Retirement Account - Fact or Fiction?
The 6 Things You MUST Get Right to Retire in Your 50s
Retiring with Only Pre-Tax Accounts? Make These 3 Retirement Changes
3 IRMAA Mistakes Smart Retirees Make (That Cost Thousands)
ROTH IRA TRAP? Why Your Instincts Are Wrong (Think Like This Instead)
What Advisors Won't Tell You About Roth Conversions
Retirees Face a Healthcare Shock in 2026 | Planning for the ACA Cliff
30 Years of Retirement Knowledge in 20 Minutes
6 Roth IRA Myths That Are Damaging Your Tax Plan
"Spiritual Warfare: Everything You Need to Know and Be Ready For" - Fr. Dan Reehil
Why Inherited IRAs Are Triggering Surprise Tax Bills and Penalties in 2026+
The New Math on Bonds — Nobody Expected This
Do THIS Retiree Withdrawal Hack & Never Worry About Tax Again
Minimize RMDs in Retirement With Asset Location Investing | Avoiding RMDs
3 Cases Where You Might Want to Roth Convert 100% of IRAs
