you tell me
The IRA rules tell you about what it is, what the rates would be and contribution limits.
The benefit to a ROTH IRA tax deductible is that it is TAX DEDUCTIBLE. But that does not mean that there are no implications, so you still have to be thorough.
I do know that you can go to a local bank or your own bank and speak with there representative's about Roth IRA'S and basic IRA's. They can help you through everything of opening one, also you can do research about Roth IRA's online I found this website wich at the bottom you can click on how to open a Roth IRA, the website is www.yourrothiraguide.com/ I hope this help's and good luck with the IRA.
IRA is Roth
Roth is the type of IRA. IRA means individual retirement account. A Roth IRA differs from a traditional IRA in that the deposit is not tax deductible for income tax purposes. Also, the gain over time is not taxable when the account matures and the amount is withdrawn for retirement income.
Yes, it is possible to rollover a Roth IRA to another Roth IRA. This process is called a Roth IRA rollover and can be done without incurring taxes or penalties if done correctly.
People have many questions regarding Roth IRA's. Some typical frequently asked questions about Roth IRA's are "Are there any penalties for cashing out my IRA early?" and "can i convert my traditional IRA into a Roth IRA?"
A Roth IRA calculator is used to calculate the total value of one's Roth IRA. Free Roth IRA calculators are offered by the websites Bankrate, Roth IRA, Money Chimp and Calculator Pro.
Opinions on changing your standard IRA investment to a Roth IRA vary on who you ask. www.smartmoney.com/.../should-i-convert-my-ira-to-a-roth-ira is an excellent website for information.
Yes, you can transfer a Roth IRA to another Roth IRA through a process called a direct transfer or a rollover. This allows you to move your funds from one Roth IRA account to another without incurring taxes or penalties.
Fortunately, you can easily convert your traditional IRA to a Roth IRA during a given tax year. You can contact the company that operates your IRA and have them rollover the traditional IRA to the new Roth IRA.