IRAs

Roth IRAs give married couples the opportunity to save money for retirement. Each spouse in a marriage may contribute money to a Roth IRA in his or her own name if they meet the exact federal conditions for being able to do so. Couples cannot contribute to a single IRA with both of their names […]

This can cause problems if one spouse makes the maximum contribution while the other does not have any taxable income. When one partner works full-time while the other is a stay-at-home parent, this is the most obvious example. Can a married couple each have a Roth IRA? Individuals can only open and own IRAs, so

Is it possible to make both pre-tax elective and Roth contributions in the same year? Is it possible to make age-50 catch-up payments to my designated Roth account as a designated Roth contribution? Can I contribute the maximum amount to both a designated Roth account and a Roth IRA in the same year, including catch-up

So, what exactly is an Individual Retirement Account (IRA)? An Individual Retirement Account (IRA) is a form of tax-advantaged investment account that can help people plan for and save for retirement. Individuals may lose money in an IRA if their assets are impacted by market highs and lows, just as they might in any other

Employees do not pay tax on stock held in their ESOP accounts until they receive distributions, at which point they are taxed. If they are under the age of 591/2 (or 55 if they have terminated employment), they, like all employees in qualified plans, are subject to not only applicable taxes but also a 10%

You can’t take advantage of the deductions that come with owning real estate because your IRA doesn’t pay taxes. There are no mortgage interest payments to deduct because you paid cash. You won’t be able to take advantage of property tax deductions or depreciation. If your home provides rental income, you can put all of

Yes, a citizen of the United States living overseas can hold both a traditional and a Roth IRA. The restrictions only apply to contributions, so if you already had an IRA before moving abroad, you don’t have to get rid of it or transfer assets, but you might not be able to contribute to it

An IRA can only be contributed to by the owner or the owner’s spouse. You can get money for your Roth IRA from an LLC or any other organization, but you must follow the contribution rules. You can contribute either your entire income or $5,500 as of 2013, whichever is less. The cap is $6,500

You can contribute up to $5,000 each year to an existing Roth IRA, according to the Internal Revenue Service. If you have both a traditional and a Roth IRA, you can only contribute $5,000 to all of them together. You or your spouse must have compensation income that is at least equal to the amount

The IRS does not approve or disapprove of any IRA investment; however, it does ban certain types of IRA investments and activities. Your IRA can be invested in a limited liability corporation as long as the LLC’s activities do not violate the IRA’s investment guidelines. Through general, an IRA invested in an LLC is more