Feed: IRA Zen - AggScore: 45.8

IRA Rollover Rules

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IRA rollover rules differ depending on what kind of IRA (traditional IRA or Roth IRA) you’re doing the rollover from and what kind of IRA you’re doing the rollover to.  In most cases, IRA rollovers are made from a traditional IRA to a Roth IRA and this type of conversion also comes with the most... Read More

What is a SIMPLE IRA?

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What is a SIMPLE IRA?  A Savings Incentive Match PLan for Employees is a tax-advantaged retirement plan that can be funded with either a 401(k) or an Individual Retirement Account (IRA).  Although the SIMPLE plan can be funded with either type of employer provided plan, it’s rare to see one funded with a 401(k) as... Read More

What is a SEP IRA?

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SEP IRA is an acronym for Simplified Employee Pension Individual Retirement Account and is a modified version of a traditional IRA for a self-employed business owner and for a business owner with employees.  This type of retirement plan is especially useful for the self-employed as there are no minimum payroll or employee roster requirements to... Read More

401k Rollover Rules

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A 401k rollover can be made to a variety of qualified plans that each have their own individual requirements and stipulations.  Because funds contributed to a 401k retirement plan are made with pre-tax dollars, executing a rollover can trigger a taxable event if the qualified plan that you’re rolling over funds into doesn’t have the... Read More

SEP IRA Rules

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SEP IRA rules for Simplified Employer Pension plans govern the availability, establishment, contributions, distributions, and termination of these tax advantaged retirement plans.  Contributions can be very generous which makes SEP IRAs popular with employees and employers can manage funding levels on a year by year basis to coincide with the ebb and flow of finances... Read More

SIMPLE IRA Rules

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SIMPLE IRA rules govern this special type of IRA account that allows smaller employers to provide a retirement plan for their employees much like the 401k plans offered by larger employers.  These plans are easy to set up, easy to administer, and allows employees to make tax advantaged salary reduction contributions and employers to make... Read More

2010 & 2011 SIMPLE IRA Contribution Limits

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2010 & 2011 SIMPLE IRA contribution limits depend upon the type of contribution involved.  SIMPLE IRA contributions can be from salary reduction, employer match, or non-elective contributions and the limits also provide for catch-up contributions for plan participants who are age 50 or older. Salary Reduction Contributions Salary reduction contributions are deducted from an employee’s... Read More

2010 & 2011 SEP IRA Contribution Limits

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The 2010 & 2011 SEP IRA contribution limit is $49,000 for small business owners and self employment income. Partnerships, Limited Liability Companies (LLC), Sole Proprietorships, and S and C Corporations qualify to invest in this retirement plan. However, calculating the actual contribution depends upon business type as follows: Sole Proprietors The actual SEP IRA contribution... Read More

IRA Calculator

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This free IRA calculator will help you determine your maximum tax deduction for which you qualify. Just enter your modified adjusted gross income, choose the year, your filing status, whether you’re covered by a retirement plan at work, and your age and click the “Calculate” button to see your maximum deduction. Note: This calculator doesn’t... Read More

2012 IRA Contribution Limits

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2012 IRA contribution limits that are eligible for a tax deduction are the lesser of $5,000 and your taxable compensation for 2012. This limit can be invested solely in a traditional IRA or a Roth IRA or split between the two retirement accounts. You’re also eligible to add an additional $1,000 in catch-up contributions if... Read More