Video

Interesting

Single investor. Can I create my own QOF?

So sell 40-45% of the company in the first two rounds?

Thank you! I finally got it after watching it 10 times.

Can Traditional IRA only be converted into Roth IRA by a broker? What about credit unions IRAs can they be converted?

I’d love to know more about Jack, I’m in an opportunity zone in Manhattan- and founder of a content studio focusing on life sciences. I’ve only yesterday learned about opportunity zones- I’m glad you’re making these videos and made this channel🎉

Is the cap gains after 10 years subject to CA/NY taxes?

Matt did a great Job!

This video is EXCELLENT! Thank you for putting it out into CZcams land...

I know a co in opportunity zone. They are selling as soon as built to be stabilized by OZ buyer. I was upset it wasn’t OZ for me. I am a bit concerned if Capital gain taxes go up to 44% by 2026-27 when taxes are due. All those who put off paying taxes till then will be paying more.

Thank you!

What is the best oil/gas company to resell their investments? 1099 sales

LOL

When you convert to a Roth, and pay the tax to the IRS, do you have to fill out a form when you want to pay estimated tax? Or just go online and use the IRS online payment system? Not sure how to handle paying the tax when I convert. Thanks!

Sorry that I have another question. I have another 1099R form in code H. Then it is just a roth to roth transfer. Do I need to do anything in 8606? Since no non-deductible IRA contribution is involved here, I will presume no?

Thank you for your excellent video. I have a question on line 6. I have a traditional IRA but it is not with the same brokerage that I am doing ROTH on. Do I still get to use the clean method?

So what I don't understand if it is a non-deductible account that we're going to contribute to first and then we wait a day and roll it over to a Roth IRA why would we not just contribute to the Roth on day one if we're still going to be taxed? Is it because contributing to a traditional IRA will decrease the gross income ?

Thank you for this detailed and super clear explanation of the different scenarios to accomplish a backdoor roth conversion. I've always had questions about how to do it properly with existing traditional IRAs. Your explanations help me figure out if we should bite the bullet and convert the whole amount of the traditional IRAs to the roth and pay the taxes one time. Just awesome. I'll be using this video as reference for other family and friends who are in the same situation. Cheers!

We are looking forward to using C-PACE for OZ projects in Texas. Unfortunately Arizona is one of the few states that don't have a legislature that has ever understood the positive impacts and benefits of CPACE

Thank you! Very informative...will share with all my people.

Great tutor and presentation. My question is do I need to enter the value for my 2022 Roth conversion this year when I fill out 8606 for 2023

If I bought my house, which is located in an OZ 5 years ago, is there any way I can take advantage? I did not set up a QOF as I did not know there was a tax benefit.

I bought a home in an opportunity zone 5 years ago, but never filled for it. I sold another piece of land (not in a zone) and I am hoping to offset some of the capital gain tax on the land sold. Is it possible to use some of the Op Zone tax benifit this tax year?

Search Fieldvest

First time doing a backdoor roth ira. Contributed and converted in January 2024. I did not get a 1099-R this year. Do I still report that I contributed to a traditional IRA (turbotax) for 2023? Do I need to do a 8606 this year (for 2023)?

How Can obtain more information about that platform?

Fantastic content

Thank you so much for making this video. I finally understand this. I was hung up on line 22 and 24, but you helped me realize that is part 3 , and part 3 is just for distributions.

No scenario with line 4 filled? When you covered scenario 1, you said that you will have a scenario where line 4 will be filled, but none of the scenarios have line 4 filled. Should it be filled in scenario 2, "Late contribution?"

At 4:00 I have a question, why is the gross expected revenue figure the same $ per unit when units vary from 458sf studio to 1051sf 2 BR?

Excellent tutorial. Can you reclassify 401K money that has been rolled into an IRA back to a 401K?

Thank you so much for the super clear explanations that covers various cases. It is very helpful!

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thanks

Thank you for positing this!!!

I have 335K in Rollover IRA from my old job. I want to do backdoor Roth IRA this is year for 2023. Do I have to treat rollover IRA as traditional IRA? And put the existing investment in form 8606?

2 Questions: I'm married filing jointly and did a back door Roth in my name. 1) I plan to do a 8606 but does my wife also need to do a separate one? 2) If so, does she just enter zeros or use the same data I populated in mine?

Scenario 2 is me, thank you so much!

Great video, what happens in a scenario that I deposited 6500 max to traditional and before converting to Roth it earned 10$ interest in the same year and I ended up converting the entire 6510 to Roth to zero out the traditional balance at end of year?

So if I were to invest my 2024 Capital Gains into a QOF the OZ program EXPIRES at the end of 2026. So I would be deferring paying taxes for a couple of years? In the meantime it looks like I would have several obstacles to overcome. 1. Big cost for OZ guidance. 2. Annual management fee. 3. Possible higher tax rates for 2026 taxes when you will have to pay up. 4. Real possibility that this QOZ investment could lose substantial value just when you need to get out of it. 5. Possible extra Fees (carried interest etc) to get out of the fund. 6. Unexpected Tax Law changes. The more that I learn about these QOF's the more that I am inclined to just pay my 2024 Taxes on my CG and move on LOL. Just seems to be a case of the dog chasing its tail LOL czcams.com/video/sCFzv_ctsAI/video.html Is there something that I am totally missing?

Thank you so much!

scenario 4 is me but a few more complicated tweaks. thank you as i venture off into another week of, i hope i'm doing my taxes right

Outstanding job men!

Thank you for having us!

unaudited bot w secret rules returning 30%/yr ... right

What if I did a back door Roth conversion in 2022 but never filled out the 8606? I didn’t know I had to fill it out until now for 2023.

People don't want to pay taxes because the money goes to shit. If the money went where it should, taxes between 2-15% wouldn't be a problem at all.

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Great insight!! Thank you!!!