Personal Finance An Integrated Planning Approach
Quiz 16: Retirement Planning: Planning for Your Long-Term Needs
Seps Have Not Been Popular Because They Require Extensive Record
SEPs have not been popular because they require extensive record keeping.
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The Internal Revenue Service approves only IRAs that provide a reliable and safe fund for retirement savings.
All funds invested in a traditional IRA during the current tax year are excluded from your adjusted gross income when calculating your income taxes if you satisfy certain requirements.
You may place as much as you want in an IRA.However,only the first $5,000 is tax-deferred.
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