Contributions to IRA’s must be made by April 15th of the following calendar year, regardless of whether or not an extension has been filed by the taxpayer. Contributions may be made between January 1 and April 15 for the previous year, the current year or both. All IRA contributions must be made in cash.
All IRA accounts are held in the name of the custodian for the benefit of the account holder. Traditional custodians include banks, broker dealers, and mutual fund companies.
Individuals who establish IRA’s have a wide variety of investments to choose from when deciding how to invest the funds. Investors should always choose investments that fit their investment objectives. The following is a comparison of allowable and non- allowable investments:
|Mutual Funds||Tangibles / Collectibles / Art|
|ETF / ETNs||Speculative option trading|
|Annuities||Term life insurance|
|Limited Partnerships||Real estate|
|US minted coins|
It is Not Wise To Put A Municipal Bond In an IRA
Municipal bonds or municipal bond funds should never be placed in an IRA, because the advantage of those investments is that the interest income is free from federal taxes. Because their interest is free from federal taxes, the interest rate that is offered will be less than the rates offered by other alternatives. The advantage of an IRA is that money is allowed to grow tax deferred, therefore an individual would be better off with a higher yielding taxable bond of the same quality.
Rollover Vs. Transfer
RetirementEligibility requirements, contribution limits and tax deductions all change with one little ring.
RetirementThese little-known features will help you get the most out of your retirement savings.
RetirementYou're not allowed to hold every kind of asset in an IRA. What can you include – and which ones are banned?
Financial AdvisorWith IRA season in full swing, advisors should consider these seven strategies for clients.
TradingInvestors are now able to invest directly in real property, mortgages and other assets.
RetirementTo answer this question, you need to consider several of the factors we outline here.
RetirementIRAs have certain tax advantages that allow your nest egg to grow at a faster rate. But there are annual limits on how much you can contribute.
Personal FinanceEager to save for retirement? Learn how to avoid overpayment penalties.
RetirementDiscover the benefits of Roth IRA accounts and how much you can contribute for your retirement. Learn which IRA plan is best for you.
Personal FinanceEager to save for retirement? Find out how to avoid overpayment penalties.