Avoid future taxes by filing Form 8606 for...

Clients may assume that if something isn’t either taxable income or a tax deduction for the current year, they don’t need to tell their tax professional about it. Case in Point: Non-deductible IRA contributions which require Form 8606 ~ via @liz_farr

Avoid future taxes by filing Form 8606 for...

Clients may assume that if something isn’t either taxable income or a tax deduction for the current year, they don’t need to tell their tax professional about it. But, sometimes those things can have a big impact down the road.Nondeductible contributions to a traditional IRA are a prime example of this. This can happen when …

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