No, you cannot contribute to both a Simple IRA and a Traditional IRA in the same year.
No, you cannot contribute to both a Simple IRA and a Traditional IRA in the same year. You must choose one type of IRA to contribute to for that tax year.
Yes, you can contribute to both a Simple IRA and a Roth IRA, but the total contribution limit across both accounts cannot exceed the annual limit set by the IRS.
Yes, you can contribute to both a Traditional and a Roth IRA account but contribution limits apply across both accounts. For example, if your contribution limit is $5,000 then you could contribute $2,500 in each account. You can not contribute $5,000 into each account.
Yes, you can contribute post-tax money to a Roth IRA, but not to a traditional IRA.
Yes you may, and neither the Simple nor the Traditional IRA is affected by contributions to the other. The maximum amount for the Simple IRA for 2010 is $11,500 plus a $2,500 catch-up for folks 50 years old and older. The Traditional/Roth IRA maximum contribution amount for 2010 is $5,000 plus a $1,000 catch-up amount for folks 50 and older.
No, you cannot contribute to both a Simple IRA and a Traditional IRA in the same year. You must choose one type of IRA to contribute to for that tax year.
Yes, you can contribute to both a Simple IRA and a Roth IRA, but the total contribution limit across both accounts cannot exceed the annual limit set by the IRS.
Yes, you can contribute to both a Traditional and a Roth IRA account but contribution limits apply across both accounts. For example, if your contribution limit is $5,000 then you could contribute $2,500 in each account. You can not contribute $5,000 into each account.
Yes, the limitation does not apply between a SIMPLE IRA and a Roth/Traditional. However, because a SIMPLE IRA is a "qualified retirement plan" offered by your employer, you may not be able to get a traditional IRA deduction- all depends on your income situation.
There is a wide range of information available on IRA's in the US. Some of the simple rules set out for IRA's are to contribute, know the difference between Roth and traditional IRA's and pay attention to the costs.
Yes, you can contribute post-tax money to a Roth IRA, but not to a traditional IRA.
Yes you may, and neither the Simple nor the Traditional IRA is affected by contributions to the other. The maximum amount for the Simple IRA for 2010 is $11,500 plus a $2,500 catch-up for folks 50 years old and older. The Traditional/Roth IRA maximum contribution amount for 2010 is $5,000 plus a $1,000 catch-up amount for folks 50 and older.
Is teacher retirement a traditional ira?
70
Contributions to a SIMPLE IRA, or Savings Incentive Match Plans for Employees, are not taxable. Contributions made to an IRA are, in fact, tax deductible. There are limits on how much one can contribute to an IRA each year, and on how much one can deduct. Distributions from an IRA (whether Traditional or Simple), however, are indeed taxable.
Can you have both a Sep Ira and a Sep Ira?
No, you cannot contribute to a SEP IRA if you are over 71, even if you are still working. However, you can still contribute to a traditional IRA if you have earned income.