Roth IRA Eligibility
Effect of Modified AGI on Roth IRA contributions in 2023: A Roth IRA is a great vehicle to save for retirement, however, there are income limits that might affect your…
IRA Deduction Rules
Each year the IRS increases the income levels whereby your contributions to a traditional IRA are tax deductible. As you do your taxes for 2023 or as you consider making…
SEP, 401k and Roth IRA contributions
I contribute in a 401K and my husband to SEP IRA; do we still qualify for Roth IRA? We meet the income limit and file jointly. Answer According to the…
IRA Withdrawal for Educational Expenses
My daughter is 24 and she just went back to school. Can I withdraw money from my IRA to help her with her educational expenses? Answer You can withdraw money…
403b Plan into Roth IRA
Can I roll over my 403b into a Roth IRA? The only option I saw was 403b into an IRA then Convert the IRA into a Roth. Answer You are…
SEP IRA
Many high-income self employed professionals such as doctors and lawyers are often faced with the problem of saving enough for retirement. Because of their high income, many of these professionals…
IRA Plan Descriptions
Below is a brief description of the most popular IRA accounts. More details are available for each IRA type. IRA: An IRA, or Individual Retirement Arrangement, is usually set up…