Anonymous
03/30/2014 15:43
Subject: IRA's
1. Yes, but for some purposes they may be discounted (only 65% of account balance)
2. Yes, but up to a statutory cap index deed for inflation. I believe it is around $1.3m
2. Yes, but up to a statutory cap index deed for inflation. I believe it is around $1.3m
Anonymous
03/30/2014 08:03
Subject: IRA's
The only question I can answer is #3 -
Roth IRA
1) income limit. I believe income has to be under $150K to participate.
2) Contributions are taxed NOW instead of when you take distribution during retirement.
IRA
1) no income limit
2) taxes are deferred until retirement. This helps you to lower your taxable income when paying income taxes every year.
Roth IRA
1) income limit. I believe income has to be under $150K to participate.
2) Contributions are taxed NOW instead of when you take distribution during retirement.
IRA
1) no income limit
2) taxes are deferred until retirement. This helps you to lower your taxable income when paying income taxes every year.
Anonymous
03/30/2014 05:28
Subject: IRA's
1) Are they counted against you as assets?
2) Are they off limits in a law suit?
3) what is the difference between an IRA and Roth IRA?
2) Are they off limits in a law suit?
3) what is the difference between an IRA and Roth IRA?