0
Roth IRA rules haven't changed much over the years. If you would like to open a roth ira you would need to follow a few rules. First you would need to make an initial investment of at least $1000. You also must make under $105,000 if on your own and $166,000 if jointly.
Add your answer:
Earn +20 pts
What Roth IRA rules do you need to know?
The best source to find out about what Roth IRA rules that you need to know would be to go to the IRS. They have detailed rules on the rules and regulations of a Roth IRA.
Can you convert a regular IRA to a Roth IRA even if you earn over the Roth limits for contributing to it?
Yes, you can do this under current IRS rules. The rules behind this are fairly complicated, but it's allowable (maybe the correct term is that it's not disallowed).
What exactly are roth IRA rules?
The IRA rules tell you about what it is, what the rates would be and contribution limits.
What are the Roth IRA rules as of April 2011?
There are many new ROTH IRA rules as of April 2011. For example, contribution limits and conversion rules have been modified. In order to fully benefit from your ROTH IRA it is suggested that you see your broker or the banking institution you have your account with.
How does an after tax IRA reduce your tax bill?
An after-tax IRA (a Roth IRA) will not reduce your taxes in the current year. You will not get any kind of deduction on your current taxes for contributions to a Roth IRA. However, when you retire the distributions from the Roth IRA will be tax free. A Traditional IRA will give you a deduction on your current year taxes, but the distributions will be taxed as income when you retire.
Is there a webpage that tells me roth ira rules?
There is a website called rothirarules.net. This webpage seems to give one adequate information about the rules that apply to rolling funds into a roth IRA.
Where can one find information on IRS Roth IRAs?
You can find information of Roth IRAs on the official IRS website. There you will find information about how a Roth IRA is different from a traditional IRA, and the rules that apply to a Roth IRA. For more detailed information, there is a website called RothIRA, which is the complete guide to Roth IRAs; it has information about what a Roth IRA is, how to get started, and more.
How do you convert to a Roth IRA?
You can convert to a Roth IRA when you transfer some or all of your existing balance to a Roth IRA. However, though it is regardless of income, some income-eligibility restrictions still apply to current year contributions.
Where can I get information on Roth ira rules online?
There are many rules for Roth IRA Conversions, so you want to make sure you find a site with the most reliable information. You can find the exact rules on the IRS.gov website. It doesn't get more reliable than that!
Why is the Roth IRA better than a traditional IRA?
The Roth IRA is not necessarily better per se than a traditional IRA. Whether one or the other is a better choice for you depends on current and expected marginal income.
What are the rules for withdrawing money from a Roth IRA?
A Roth IRA can be withdrawn for at anytime before a person reaches retirement age. A tax penalty of ten percent will be accessed on the earnings accumulated in the IRA but not the actually investments.
What are the best savings rates for a ROTH IRA in our present economy?
A roth IRA has the same savings rate no matter where you open it. You can use your current broker on do it online with Etrade.
