IRA (disambiguation)

RELATED WIKI ARTICLES
 

An individual retirement account (IRA) is a type of retirement savings plan in the US, which offers tax benefits to the holder. The maximum contribution to all IRAs for a person under the age of 50 is capped at $5,000, and at $6000 for a person over 50.

There are two main types of IRAs:

  • Traditional IRA: A contribution to a traditional IRA account allows individuals to deduct the contribution from their taxable income. For example: Person A earns $120,000 in a year and is in the 25% tax bracket. If he contributes $4000 to an IRA account, he does not have to pay taxes on that $4000, i.e. his tax liability decreases by $1000.
  • Roth IRA

Other types of IRAs include:

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki