A mega backdoor Roth is a method of contributing larger after-tax amounts to a 401(k) plan and then converting those amounts to a Roth IRA. Learn more.
Like most companies,Microsoft’s 401(k)is one of the first accounts you should consider saving money into. Microsoft matches 50% of your contributions up to the annual IRS limit of $19,500 for 2021 (or $26,000 for those over 50, thanks to the additional $6,500 catch-up contribution)....
a backdoor Roth is when someone puts money into a traditional IRA, then converts that account to a Roth IRA, and pays the tax bill -- sidestepping the income requirement. In this case, a portion of the converted money may be taxable. ...