adjusted gross income Archives - 2011 Taxes to 2024 Taxes

Start Saving Young For Your Roth IRA

March 24, 2020May 2, 2011 by Steve

When you begin to save for retirement will have an effect on which retirement plan you choose. Some retirement plans allow for you to put into the fund as much money as you want and this would be best for someone beginning to save later in life. While other funds have limits on how much money you can put into the fund each year and this kind of fund would be best for individuals beginning to save at a younger age.

If you are beginning to save at a younger age then a Individual Retirement Account known as a Roth … Read more at 2011 Taxes.

IRA Contributions

March 11, 2020December 6, 2010 by Steve

With 2010 coming to a close, many people are understandably concerned with making sure they’ve made the optimal financial decisions. It’s not always easy, given how the rules change from year to year! With that in mind, let’s take a look at the 2010 IRA Contribution and Deduction Limits.

If you are under 50 at the end of the year, you can contribute up to $5,000 or your total taxable income, whichever is less, to any combination of IRAs (both traditional and Roth IRAs). If you’re over 50, you can contribute the lessor of $6,000 or your taxable income… Read more at 2011 Taxes.