IRS income limits block direct contributions for higher earners. In 2025, single filers with a modified adjusted gross income (MAGI) above $150,000 (and joint filers above $236,000) can’t contribute directly.
But high-income earners aren’t totally locked out. It’s possible to leverage a backdoor Roth IRA to work around these income limits.
Read MoreAt Palm Beach Accounting and Financial Services, we specialize in working with entrepreneurs whose financial circumstances demand more than basic tax preparation. Here’s how our approach to tax planning stands out—and why that difference matters, particularly for those with complex income streams, multi-entity operations, or long-term wealth goals.
Read MoreIt’s never too early to start preparing your child for financial success. Whether you're thinking about college, a first car or helping them build smart money habits, putting the right savings tools in place now can make a big difference later.
Read MoreRetirement used to mark the end of one chapter — but for many, it’s becoming a midpoint. What’s drawing people back into the workforce? For some, it’s financial. For others, it’s the desire for connection, purpose or simply something to do. If you’ve been thinking about reentering the workforce, you’re not alone.
Read MoreAs you plan your financial future, you will learn about many different investment options. Annuities and life insurance often come up as recommendations. While both of these products can have a place in your portfolio, they serve different purposes.
Read MoreAre you taking the right amount of financial risk? Discover how risk tolerance evolves over time, and why taking financial risks later in life can still be beneficial, not just for younger investors.
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