Alterra Advisors

The Mega Backdoor Roth Solo 401(k) for Solopreneurs

The Mega Backdoor Roth 401(k) has typically been reserved for select Fortune 500 companies. Here’s how you – the Solopreneur – can access this little known strategy!

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2021 Retirement Plan Contribution Limits for 401(k)s, IRAs and More

2021 retirement plan contributions have been released and, while the majority of limits are unchanged, there are a few updates to note. Here’s a summary!

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The Mega Backdoor Roth – A Hidden 401(k) Benefit

Microsoft led the way in a rarely utilized benefit within their 401(k) plan – the after-tax Roth conversion. And, slowly but surely, other companies are adopting this plan feature. So, how does it work, what other companies offer it and is it worth it?

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You Can Skip Your 2020 RMD…But Should You?

The recently passed CARES Act allows you to skip your Required Minimum Distributions (RMDs) from all retirement accounts this year. These distributions, required for retirement account owners over age 72 (increased from age 70½ by the SECURE Act), are taxed as income, so forgoing your 2020 distribution is a chance to lower your taxes. The… Read More »

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Safe Harbor 401(k) or Simple IRA – Which retirement plan is best for my new dental practice?

It’s one of the most frequent discussions we have with new dental practice owners: “What retirement plan should I choose for my new practice? A friend recommended a Simple IRA and another colleague has a 401(k). Which is right for me?”The right answer usually comes down to a single question: How much do the owner(s)… Read More »

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