Depending on your income, you might be able to fund your rollover IRA to Roth IRA. Congress felt that the Roth IRA was too good of a deal to extend to higher-income taxpayers, so they placed lower caps on it. The online IRA calculator available here to compare the ordinary taxable rollover IRA to Roth IRA investment plans. Also compare Roth vs. Traditional IRA rollover to determine which IRA may be right for you. (more…)
Posts Tagged ‘Rollover IRA Roth IRA’
Understanding Qualified Rollover IRA/Roth IRA Withdrawals
Posted by admin on May 7th, 2010
IRAs – both Roth IRAs and more traditional types Rollover IRA – are designed to allow you to accumulate money for your retirement years. The structure of these IRA accounts has two consequences – first, that taking money out of your account before the IRS established minimum retirement age may subject you to penalties. The second consequence is that once you reach “retirement” age as defined by the IRS, you may be required to start receiving money from your rollover IRA account – whether or not you actually need it. Before you make any withdrawals from your IRA, it’s a good idea to consult your tax adviser or financial planner for advice. (more…)
Is Your Funds Eligible for a Rollover IRA/Roth IRA Conversion?
Posted by admin on April 30th, 2010
With the legislative changes taking place in 2010 for Rollover IRA/Roth IRA Conversion, many people are considering rollover their existing IRAs to Roth IRAs. Although there are some limitations, chances are your funds are eligible for a rollover IRA/Roth IRA conversion. (more…)
Rollover IRA / Roth IRA Tax Rules
Posted by admin on March 31st, 2010
When it comes to Roth IRAs, the most important thing you must remember is that Roth IRAs are not structured like traditional IRAs. Traditional IRAs allow you to make contributions “off the top,” before any taxes are taken out of your gross salary. Contributions to Roth IRAs, conversely, are made with your after tax dollars, or net salary. This difference in the tax status of contributions is evident in almost every transaction involving a Roth IRA. (more…)
The Rollover IRA/Roth IRA Conversion Process – What You Need to Know
Posted by admin on March 23rd, 2010
So you’re ready to take advantage of recent government legislation that makes it easier and cheaper to convert your rollover IRA funds to a Roth IRA? (more…)
