Do I Report a Roth IRA Contribution on a 1040?
Although the IRS generally wants you to report nearly all of your financial dealings on your Form 1040, contributions to a Roth IRA do not have to be reported when you file taxes. Understanding your reporting responsibilities will help ensure that you don't incur any penalties ...
How to Withdraw From a SEP IRA
Contributions to a SEP-IRA come directly from the employer. In fact, the company can put up to 25 percent of your salary into a SEP. When it comes to withdrawals, however, the rules are identical to ...Read More
Who Is an IRA Transfer Custodian?
An IRA custodian is a bank or qualifying financial institution responsible for managing retirement accounts for individuals. In a situation where funds are being transferred between eligible ...Read More
Tax Breaks on IRA Deposits
Individual retirement accounts qualify for several tax benefits. Unlike employer plans, the contributions aren't taken out of your paycheck, so you must proactively claim the tax breaks on your tax ...Read More
Is a Bond Fund Suitable for an IRA?
One of the major benefits of stashing some of your retirement money in an individual retirement account is the ability to grow your investments on a tax-deferred basis. You get this tax-deferred ...Read More
Roth IRA vs. SEP if Self-Employed
If you're self-employed, you have a few options for funding retirement. A SEP-IRA allows you to contribute up to 25 percent of your earnings, up to $55,000, while the limits on a Roth IRA are $5,500 ...Read More
Can You Invest a 401(k) in Day Trading?
When you have a 401(k) retirement plan, you are in charge of managing your investments. It is up to you to decide the best places for your money. Because of this control, you can use your 401(k) to ...Read More