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IRA Contribution Limits for 2012 and 2013. Under Age 50. Age 50 or older. 2012. $5,000. $5,500. 2013. $5,500. $6,500. ... If you have more questions on IRAs, check out The Motley Fool's IRA center.
These limits are different from the limits that apply to 401(k), 403(b), and 457 plans. [6] The SIMPLE plan can technically be funded with either an IRA or a 401(k). There is almost no benefit to funding it with a 401(k), because the lower contribution limits of the SIMPLE are required as is the expensive extra administration of the 401(k).
An individual retirement account [1] (IRA) in the United States is a form of pension [2] provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age.
Those are the IRA contribution limits for the current tax year. For most folks, though, For 2013, most people can contribute up to $5,500 to IRAs, and those 50 or older can sock away $6,500.
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Download as PDF; Printable version; ... The following 17 pages are in this category, out of 17 total. ... SEP-IRA; SIMPLE IRA; T.
Contribution limits: The contribution limits for 2023 go as follows: the Simple IRA permits up to $15,500 (plus an additional $3,500 for those aged 50 or older), while the Roth IRA allows up to ...
A SIMPLE IRA makes a great option for a small business to set up a retirement plan for its employees, with less hassle and expense than a typical 401(k) plan, and employees can benefit from the ...