Ira Optimized Skills 101 Pp Tam Inc Rev Slide Share

IRA 101 Optimized Skills a Road Map to Success

What is an IRA? ,[object Object],[object Object],[object Object]

How does it work? ,[object Object],[object Object],[object Object]

IRA Contribution Limits ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What are the different types of IRA’s?

Traditional IRA ,[object Object],[object Object],[object Object],[object Object],Roth IRA

Traditional vs. ROTH ,[object Object],[object Object],[object Object]

Coverdell Education Savings Accounts ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Coverdell Education Savings Accounts cont’d.. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],SEP IRA - Simplified Employee Pension

Simple IRA ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

IRA Recap ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Recap cont’d…. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Recap cont’d…. ,[object Object],[object Object],[object Object],[object Object]

Recap cont’d…. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Time to see how well have you been taking notes…..

IRA Features: Traditional IRA ROTH IRA Coverdell IRA SEP IRA Earnings are federal income tax deferred until distribution * * Earning are federal income tax fee and IRS penalty free if certain conditions are met * * Contributions may be withdrawn federal income tax free and IRS penalty-free at any time * Distributions may begin at age 59 ½ * * No required minimum distributions at age 70 ½ * Child must be under the age of 18 for contributions and funds and must be used before the child reaches age 30 * First Required Minimum Distribution must be taken by April 1 of the year following the year the client turns 70 ½ * * ,[object Object],[object Object],[object Object],[object Object],* * $2000k per child * Contributions can be made for tax years prior to age 70 ½ if indv. Received earned income during those years * * * No age limit on contributions * *

Glossary of Terms ,[object Object],[object Object]

Ira Optimized Skills 101 Pp Tam Inc Rev Slide Share

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Ira Optimized Skills 101 Pp Tam Inc Rev Slide Share