Posts Tagged ‘Catch Up Contribution’

4 Reasons Everyone Should Contribute to a Roth IRA

1) Tax – Free Distributions

If the Roth IRA account is open for at least 5 years and the taxpayers is over age 59 1/2, then all of the distributions from the Roth IRA are tax-free.


2) Take Your Contributions Back at Any Time

Unlike a Regular (or Traditional) IRA, contributions to a Roth IRA are not income tax deductible. Because the contribution is not tax deductible, taxpayers can take back their contributions at any time without any income … Continue reading »

IRA…All the Way…to Retirement!

The IRA (Individual Retirement Arrangement) is one of the more underutilized tools for retirement planning.  The primary benefit to an IRA is tax-deferred investing.  Income taxes are not paid until taxable distributions are made.  With limited exceptions, distributions made prior to age 59½ are subject to a 10% penalty in addition to income taxes.

Now is The Time…Start Tax Planning for 2010

You've just finished filing your 2009 income tax returns, or you were too rushed and filed for an extension.  And here I am talking about 2010 tax planning? Yes…I am.

The Roth 401(k) Plan…It’s Becoming a More Popular Retirement Plan

The Roth 401(k) plan is becoming a more popular retirement plan option offered by employers.  This has become the foundation for many people's retirement plan.  Unlike a traditional 401(k) plan where contributions are made pre-taxed, contributions to a Roth 401(k) plan are made after tax. 

The 401(k) Plan…The Foundation of Your Retirement

Many employers will offer a 401(k) to their employees.  A 401(k) plan offers many advantages to employees.  The biggest advantage is tax-deferred investing.  These accounts are not taxed until distributions are made.