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 [...]
Roth IRAs
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 [...]
Are you wondering how to open a Roth IRA, but not sure where to start? Everyone knows you should save for retirement and open a Roth IRA account, but so few of us actually do. The reason…perhaps it’s too difficult or you lack the information. Or perhaps it’s too time consuming or too costly. Whatever [...]
This article covers 2011 Roth IRA income limits for contributions. For 2012, see the article 2012 Roth rules. As it turns out, 2011 is a big year for IRAs because of a current rule that allows for rollovers from traditional IRAs to the more desirable Roth IRAs. For this reason, it is important to know [...]