Do you know why some people have to pay taxes when they contribute to their IRA while others have to pay taxes when they make a withdrawal? It all comes down to the type of IRA (individual retirement account) in question – a Roth IRA or a traditional IRA. The reason being is that each type of IRA comes with its own set … [Read more...]
Roth IRA Income Limits for 2020
This article covers 2020 Roth IRA income limits for contributions. For 2019, see the article 2019 Roth rules. As it turns out, 2020 is a big year for IRAs because of a current rule that allows for rollovers from traditional IRAs to the more desirable Roth IRAs. For this reason, it is important to know the difference … [Read more...]
