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Is it possible for me to 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.
Can you contribute to both a Simple IRA and a Roth IRA?
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.
Can you put money in both a Roth IRA and a Traditional IRA?
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.
Can you contribute to a simple IRA and a traditional IRA in the same tax year?
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.
Can I contribute post-tax money to an IRA?
Yes, you can contribute post-tax money to a Roth IRA, but not to a traditional IRA.
Is it possible for me to 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.
Can you contribute to both a Simple IRA and a Roth IRA?
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.
Can you put money in both a Roth IRA and a Traditional IRA?
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.
Can you have both a Simple Ira and Roth Ira?
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.
What are the simple rules set out by the IRA?
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.
Can you contribute to a simple IRA and a traditional IRA in the same tax year?
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.
Can I contribute post-tax money to an IRA?
Yes, you can contribute post-tax money to a Roth IRA, but not to a traditional IRA.
Is a simple IRA taxable?
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 a teacher participating in Teacher Retirement also contribute to a traditional IRA?
Is teacher retirement a traditional ira?
Can you contribute to a SEP and a traditional IRA?
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Can you have Both A Sep Ira and a Simple Ira?
Can you have both a Sep Ira and a Sep Ira?
What kind of IRA accounts are there?
There are many kids of IRA accounts. Traditional IRA, ROTH IRA, SIMPLE IRA and a few more are the various kinds of different IRA accounts. Traditional IRA accounts are one of the more common IRA but are also the most basic and simple to use.
