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What else can I help you with?
What is the benefit of converting a traditional IRA to a ROTH IRA?
Here is a link to a website that will help you learn more about the benefits of converting, and if it is right for you or not. http://www.rothira.com/
What is the difference between a 401k and an IRA plan?
a 401k is an employer plan for the benefit of the employees, and an IRA is an individual plan
What is the back door Roth strategy and how can it benefit my retirement savings?
The backdoor Roth strategy involves converting traditional IRA funds into a Roth IRA to take advantage of tax benefits. This can benefit your retirement savings by allowing tax-free withdrawals in retirement and potentially lowering your overall tax burden.
What are some Roth IRA benefits?
One of the biggest advantages of the Roth IRA is that direct contributions may be withdrawn at any time without a tax penalty and the Roth IRA does not require a certain age for distributions. Another advantage is Roth benefits do not affect a persons social security benefit.
Why is there an income limit on Roth IRA contributions?
The income limit on Roth IRA contributions exists to ensure that high-income individuals do not disproportionately benefit from the tax advantages of the account. This limit helps maintain the intended purpose of the Roth IRA as a retirement savings vehicle for a broader range of income levels.
How does Simple IRA benefit older people?
The simple IRA can allow older people to promote independent living. This is achieved through the monetary resources gained by utilizing the Simple IRA.
What can you tell me about a Roth IRA tax deductible?
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.
What is the benefit of converting a traditional IRA to a ROTH IRA?
Here is a link to a website that will help you learn more about the benefits of converting, and if it is right for you or not. http://www.rothira.com/
What benefit does a traditional IRA have over other IRA accounts?
The main advantage of a Traditional IRA, compared to a Roth IRA, is that contributions are often tax-deductible. For instance, if a taxpayer contributes $4,000 to a traditional IRA and is in the twenty-five percent marginal tax bracket, then a $1,000 benefit ($1,000 reduced tax liability) will be realized for the year. Because qualified distributions are taxed as ordinary income (the taxpayer's highest rate), the long-term benefits of the traditional IRA are only comparable to those of a Roth IRA (whose qualified distributions are tax free) if the current year tax benefit ($1,000 above) is reinvested, or if the pre-tax amount going into both is the same.
What is the difference between a 401k and an IRA plan?
a 401k is an employer plan for the benefit of the employees, and an IRA is an individual plan
Will a roth IRA calculator be useful?
A Roth IRA calculator will enable you to calculate whether you would benefit from this type of retirement plan rather than a regular IRA. This calculator alone is not sufficient to basis investment decisions on.
What exactly is the purpose of IRA funds?
IRA stands for Individual Retirement Account. It is a trust or an annuity set up to benefit a retiree and has significant tax advantages in the U.S.A.
What is a roth conversion calculator?
A Roth conversion calculator is a program to help determine if a Roth IRA is right for you. In some cases you wil benefit by converting your traditional IRA to a Roth
What can people benefit from sep IRA?
Sep IRA is an alternative type of retirement plan. The benefits will differ depending on what your needs may be and your financial adviser will be able to give you advice based on these factors.
Can you get a tax deduction for Roth IRA contributions?
No, you do not get a tax deduction for Roth IRA contributions. You pay regular income tax on the amount your contribute to your Roth IRA. The tax benefit is that any income you generate with the account (interest, dividends, etc.) is not taxed when you withdraw the money.
What are the Roth IRA rules as of April 2011?
There are many new ROTH IRA rules as of April 2011. For example, contribution limits and conversion rules have been modified. In order to fully benefit from your ROTH IRA it is suggested that you see your broker or the banking institution you have your account with.
What is the back door Roth strategy and how can it benefit my retirement savings?
The backdoor Roth strategy involves converting traditional IRA funds into a Roth IRA to take advantage of tax benefits. This can benefit your retirement savings by allowing tax-free withdrawals in retirement and potentially lowering your overall tax burden.
