An IRA (Individual Retirement Account)
An individual retirement account allows you to put away money for retirement and the IRS helps you do it by letting you pay less taxes based on the amount that you invest. This is in addition to Social Security and/or your Employer Retirement Plan.
IRS Publication #590, explains how your allowed you to save for Retirement – Tax Deferred. We generally fund them with Annuities It’s like a bank account, but with an Insurance Company and it can give you a GUARANTEED income for life.
How Are a Traditional IRA and a Roth IRA Different?
Official IRS Pamphlet on Business Retirement Options # 3998
If you ever worked for a company or put money into a plan, but do not remember where it is, etc. try these ideas to locate your missing retirement funds.
Contributions – Deductible
- Contributions you make to an IRA may be fully or partially deductible, depending on which type of IRA you have and on your circumstances; and
- Generally, amounts in your IRA (including earnings and gains) aren’t taxed until distributed. In some cases, amounts aren’t taxed at all if distributed according to the rules. IRS.gov Publication 590 *
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Who Can Open a Traditional IRA?
When Can a Traditional IRA Be Opened?
How Can a Traditional IRA Be Opened?
How Much Can Be Contributed?
When Can Contributions Be Made?
How Much Can You Deduct?
What if You Inherit an IRA?
Can You Move Retirement Plan Assets?
When Can You Withdraw or Use Assets?
What Acts Result in Penalties or Additional Taxes?
What Is a Roth IRA?
When Can a Roth IRA Be Opened?
Can You Contribute to a Roth IRA?
Can You Move Amounts Into a Roth IRA?
Retirement Savings Contributions
Credit (Saver's Credit)
IRS Types of Retirement Plans
SIMPLE IRA Plans (Savings Incentive Match Plans for Employees)
SEP Plans (Simplified Employee Pension)
SARSEP Plans (Salary Reduction Simplified Employee Pension)
409A Nonqualified Deferred Compensation Plans
Retirement Plans for Small Biz
IRS Publication 560
- Contributions not reported.
- What Is a Roth IRA?
- Are Distributions Taxable?
- Basis of distributed property.
- Withdrawals of contributions by due date.
- What Are Qualified Distributions?
- Additional Tax on Early Distributions
- Ordering Rules for Distributions
- How Do You Figure the Taxable Part?
Child, Related Pages & Site Map
- Business – Employer Sponsored Retirement Plans
- Coverdell Education Savings Account
- IRA – Individual Retirement Account
- TSA-Teacher Retirement Plans – Tax Sheltered Annuities