More information about ira, and what is roht ira?
Answers:
Assuming you mean Roth IRA which is an after tax contribution IRA. The advantage over tranditional IRA is that the earning in a Roth IRA is tax free if withdrawal begins after age 59 1/2. There are restriction such as maximum annual contribution.
Most mutual fund companies such as Fidelity, T Rowe Price and Janus can assist one in setting up a Roth IRA account.
the main diff between IRA and ROTH IRA is that IRA doesn't tax until you take it out and ROTH IRA taxes when you put it in and doesn't tax you when you take it out... my personnel opinion is pick ROTH IRA because of all the tax issues
A TRADITIONAL IRA allows a tax deduction when you put it in and all of the money put in PLUS earnings will be taxable when you take it out. I ROTH IRA has no tax deduction when you put money in and all the money PLUS earnings are tax free when you take it out. Note: you must have ROTH over 5 years before you can tax it all out tax free.
Like the previous answers said - traditional IRA taxes you when you withdraw the money and the Roth IRA taxes as you contribute it.
Trad. IRA contributions may or may not be able to be deducted depending on your income level and if you participate in an employer plan.
Roth IRA also has income limitations. Depending on how much you make and how you file your taxes, you may not be eligible to contribute.
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