First introduced in 1974, the Individual Retirement Account (IRA) has been a preferred way for U.S. citizens to save money for retirement. Although the rules governing IRAs have changed over the years, the basic idea behind an IRA remains the same in, namely, to provide IRA holders tax advantages that encourage them to save for [...]
2012 IRA Rules
As tax time nears, a new report commissioned from IRC, commissioned by Greene IRA, shows a continued decline in Americans’ participation in Individual Retirement Accounts. The study, released in full today, shows an ever-widening gap between what average US citizens are saving for retirement and what they need to retire comfortably. As a result, Americans [...]
Greene IRA has commissioned a new study from Investment Company Research to examine the role of IRAs in Americans’ retirement preparedness. The study is the first comprehensive survey of it’s kind to be completed since 2008. It shows an alarming and continued drop in adoption of Individual Retirement Accounts as an investment vehicle. It show [...]
The first thing you need to know about your 2011 IRA is that the final contribution deadline doesn’t happen until 2012. The IRS allows you to contribute to the previous year up until the normal federal tax deadline. Typically, this falls on April 15th, but because that falls on a Sunday this tax season, the [...]
What’s new with Roth IRA rules in 2012? Be sure to bookmark this page for reference. First, let’s recap the Roth IRA maximum contribution limits. These vary depending on your age, and the 2012 rules haven’t changed significantly since the 2011 Roth Income Limits. Basically, if you are under fifty in 2012, the most the [...]
Do you know your Simple IRA contribution limits for 2011 and 2012? They are much different than your standard IRA contribution rules. When people contribute to a Simple IRA, as opposed to a Roth IRA contributions or traditional account they do so through employer contributions and contributions involving reductions in salaries. Simple IRA contributions can [...]
New IRS Rules for This Year. 401k contribution limits and withdrawal rules are changing both in the years 2011 and 2012. This is important because 401ks, along with Roth IRAs, are the most popular retirement savings plans. These types of retirement plans are have similarities to regular IRA limits in that they plans are administered [...]
SEP IRA contribution limits for 2011 and 2012 are changing. SEP’s are Simplified Employee Pension (plans). You can benefit from a SEP IRA if you own a small business or are self-employed. The federal government rules let you use an SEP plan as an easy way to contribute to your employees’ retirement savings or your [...]