IRA Plans

Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year

The maximum income allowed from a limited partnership in an IRA is $1,000 per year. Under the IRA, a limited partnership is entitled a master limited partnership or MLP.

You can`t do anything with it, other than take it to the bank it is made out to and deposit it.

You should review the Publication 590,link provided.

There are a number of instances and circumstances where the penalty won't apply, and some that increase it.

http://www.irs.gov/publications/p590/ch01.html

They can sometimes...you would need to check with your state laws to see.

Are you looking for a IRA account that you had at a brokerage firm years ago? A lot of firms have merger and changed names. If you know the name of the old firm, then you can call the firm that company became.

traditional is pre-tax and roth is post-tax , meaning traditonal is tax deferred until you take disbursment and roth is taxed already.

Would really depend from firm to firm. Some firms require that you have to deposited money into the account when it is opened, other don't.

if the brits come for u t.a.l/

According to IRA regulations, if any part of an IRA is used as collateral, the entire IRA is considered to be distributed. Distribution of such accounts are subject to income taxes and an additional penalties. This is important because margin accounts require that you pledge your account as collateral. Your attempt to convert an IRA account into a margin account will nullify it's "qualified" status. It is for this reason that investment firms will not provide margin for a retirement account.

Also, you are not allowed to have/keep a debit balance in a IRA account

***Revision

Updated as Feb. 5, 2011

Select few brokerages will grant margin on IRA accounts.

However, the margin capability will not be allowed leverage.

The alternative purpose for seeking margin account is to avoid the settlement period (3 days, in which, the proceeds and principal cannot be used).

Interactive Brokers and TD Ameritrade allow margining IRAs for settlement avoidances, only. This service has been approved be the Securities Exchange Commission.

Bottom line: YES, you can margin an IRA account. NOT, for leveraging purposes.

Since you are usually charged a fee for each account, it is best to have all of your IRA funds in one account. I recommend utilizing a self-directed IRA account from a firm such as PENSCO Trust, where you can have all types of investments, even real estate and businesses, in one account. They can set up subaccounts with any broker you may utilize and you only get charged fees once. Watch out for "free" IRA accounts. The sponsor can earn exorbitant fees hidden in the investments they offer or pay you below market rates to earn money from your account.

One way to evaluate the best place for an IRA - what will you be charged per year for the account? and are the available investments also low cost? Vanguard is a good place to open an IRA, not only is the annual charge for the IRA account low ($20/year) but the investments available to put into the IRA are also low cost. Fidelity is another place with reasonable IRA costs. There are many other planners and companies out there that will charge sky high prices for the same thing as what Vanguard offers you. i'd check out Vanguard before looking elsewhere.

Yes you can do that. Even you can convert it into the ROTH IRA too. For more details speak with your plan administrator. == == == == * * * * * http://www.irs.gov/retirement/article/0,,id=137864,00.html

Yes. Your ability to have a personal or spousal Roth IRA is a separate questions from whether you can have a SEP IRA. Anyone with earned income can contribute up to $4,000 (or $5,000 if your are 50 or over) in 2007 and $5,000 (or $6,000 in 2008) if they meet the income requirements. You must have earned income of under $99,000 for 2007 and $101,000 for 2008 for singles or $156,000 for 2007 and $159,000 for 2008 for married filing jointly. For a SEP IRA, you must have business income to contribute. You can contribute up to 25% of your business income with a limit of $45,000 in 2007 and $50,000 in 2008 (those 50 years or older may contribute $5,000 more). Thus, if you have business income, you can contribute to your ROTH IRA if you are eligible and a SEP IRA. If your SEP IRA is likely to become substantial or you have funds in a 401(k) from a previous employer and you are an one person (or one person with a spouse) business, you should look into individual 401(k)s. All of the major financial institution and self-directed trust companies offer them. They work like a corporate 401(k) but you have complete control. They may be better than a SEP since: 1. The contribution limits are higher 2. You can borrow in a 401k but not a SEP 3. You can have a Roth 401(k) but you cannot make Roth contributions to a SEP 4. You can buy life insurance or invest in a S corporationin a 401(k)

In most cases your custodian won't allow you to own gold coins. But you can buy bullion with GLD and there are many other funds that own gold and precious metals like TGLDX, MIDSX. Search for mutual funds that have a basket of gold mining companies, etc. If you really want to own gold coins, you can do so in a self-directed IRA. There are a number of nationally recognized trust companies that offer such accounts. According to IRS rules, their are non-collectible "bullion" coins that you can own. Generally, they have to be .995 fineness or better. These include American Gold Eagles, Candadian Gold Maple Leafs and Austrian Philharmonics (which are gorgeous coins!) You cannot own South African Krugerrands since they only have .916 fineness.

By taking the PFMV on 12/31 of previous year for all IRA accounts (Roth doesn't have RMD) and divide your age factor. i.e PFMV = $100,000 and age factor is 22.7 then the RMD would be $4405.29

RMD would be different each year since the PFMV and age factor will change.

Age factor can be find in the 590 Pub on www.irs.gov

You can set up a Roth IRA account at several locations. You may choose a bank, brokerage firm, insurance company, etc. Once the account is set up you need only to determine how much you can contribute each year based on your eligible income. That amount can be determined with the help of your tax professional. Then, you decide when you want to make the contribution and write a check made payable to the source you have chosen to administer the account. Make certain you have clearly indicated the purpose of the contribution and the tax year for which the contribution is made. Most people who work for a living, or have a spouse who works for a living, can contribute to a Roth IRA. Your most important task is to take care to obtain your information from bona-fide professionals who can provide the CORRECT information.

Yes, there is no mandatory contributions into a Roth. You could contribute once and never do it again.

Yes, although you will get options that give you some (limited) flexibility with regard to WHEN you take the distributions and pay the taxes.

can be withdrawn without ten percent IRS penalty after age 59 1/2

Yes. But there may be penalties for early withdrawal. And, if it is a traditional IRA there will also be federal (and maybe state) income taxes due, as well as a ten percent penalty to the IRS under most cases, if the withdrawal is made before age 59 1/2. For a roth IRA, there also may be penalties for early withdrawal, but there will be no taxes due if all you withdraw is the amount you originally deposited. Once you are 59 1/2, you may withdraw even the gain without taxes.

Beneficiary = benefits from Benefits from the execution of a will / payout from an insurance policy etc.

Taxes are paid upon withdrawal at a later date