Roth IRA vs. Traditional IRA: Taxes The difference between a traditional IRA and a Roth IRA comes down to taxes. With a Roth IRA, you contribute funds on which you’ve already paid income taxes, ...

A Trump Account is a type of IRA for the exclusive benefit of eligible children. You'll need to opt in to get the $1,000 seed ...

If you have an individual retirement account, you need to get acquainted with IRS Form 8606 before filing your tax return this year. Failing to file a Form 8606 could result in a $50 penalty unless ...

Some high-income earners have the problem of not being able to contribute to their Roth accounts since their incomes exceed the threshold set by the IRS. Fortunately, there is a way to bypass this ...

This article, the third of a three-part series on how to implement an effective backdoor Roth strategy, was written by guest contributors Steven Jarvis, CPA, MBA, and Matthew Jarvis, CFP. Once ...

An audit of Susan’s IRA activity revealed that she paid income tax on $50,000 that qualified to be tax-free. Susan mistakenly believed that her IRA custodian would inform her how much of her ...