In this podcast episode, Matt is joined by Steven Jarvis from Retirement Tax Services (RTS) to discuss a commonly misunderstood tax strategy and how you can add value to your clients through tax planning. Through talking about a critical tax strategy involving backdoor Roth contributions, they stress the importance of correctly reporting on tax returns and highlight common mistakes, such as errors in the 8606 form and issues when clients change tax preparers.

The conversation explores pitfalls in the backdoor Roth process and the need for a proactive advisor.  Steven also warns against relying solely on software tools and why they require a knowledgeable operator. They also discuss the importance of managing all client accounts for optimal communication and the successful execution of complex strategies like the backdoor Roth. Tax Talk: Strategies for Efficient Backdoor Roth Conversions With Guest Steven Jarvis, CPA [Episode240]

Resources for this episode:

- Steven Jarvis: Website | LinkedIn - 8606 Masterclass - Effective Implementation Of A Backdoor Roth Strategy: Detailed Nuances, IRS Form 8606 (And When It’s Even Worth Doing)