Certain IRA administrative fees, whether or not you're currently taking distributions, are deductible, but they have to be paid by the account owner's non-IRA funds. You're right that investment fees paid to produce taxable income are tax-deductible. These expenses are miscellaneous itemized deductions subject to an overall reduction of 2 percent of adjusted gross income.
The key to deducting the IRA fees is to cut a check or use a credit card to pay the broker the annual maintenance fees. For example, if your broker charges you $150 for the IRA annually, you need to pay this to the broker from non-IRA assets for it to be deductible. The payment is not considered an additional contribution, but rather a miscellaneous itemized deduction.
On the other hand, if your broker charges a 1 percent-of-asset-value fee to invest your IRA, these fees cannot be reimbursed to the IRA. That would be considered an additional contribution as it is not an administrative fee. Since your broker is deducting this from your IRA, this investment charge is not deductible to you as it is coming out of pretax dollars
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The benefit to a ROTH IRA tax deductible is that it is TAX DEDUCTIBLE. But that does not mean that there are no implications, so you still have to be thorough.
In Australia, Private school fees are not tax deductible.
Yes
Yes.
Everything that is in a Roth IRA is non tax deductible. You can get a tax credit of 50% on the first $2000 that you contribute to the IRA if you meet qualifications. The qualifications a listed on this site: http://www.your-roth-ira.com/roth-IRA-tax-credit.html
The benefit to a ROTH IRA tax deductible is that it is TAX DEDUCTIBLE. But that does not mean that there are no implications, so you still have to be thorough.
In Australia, Private school fees are not tax deductible.
The tax breaks for a "Traditional" IRA are tax-deductible where as the tax breaks in a "Roth" IRA are never tax-deductible. For more detailed information, speak to a financial adviser.
Homeowner association fees are NOT deductible on the individual taxpayers 1040 income tax return.
Yes, vehicle registration fees are tax deductible as they are considered a tax on personal property. However if the car was made before 1984, the registration fees may not be deductible.
No
Yes
No
Everything that is in a Roth IRA is non tax deductible. You can get a tax credit of 50% on the first $2000 that you contribute to the IRA if you meet qualifications. The qualifications a listed on this site: http://www.your-roth-ira.com/roth-IRA-tax-credit.html
Yes.
There is no deduction for a Roth IRA. The advantage is given when you take money out of he roth after retirement. No tax is paid on the interest earned on the roth IRA.
Earnings within an IRA are not taxable in the year earned. A traditional IRA contributions are possibly tax deductible in the year made and are tax deferred until they are taken out of the IRA.