Journal article
The Roth IRA
Management accounting (New York, N.Y.), Vol.79(4)
01 Oct 1997
Abstract
The Roth individual retirement account (IRA) was introduced to influence wage earners into saving for different purposes, including retirement, unemployment or purchase of a first-time home. Taxpayers should find the Roth IRA attractive because it allows them to engage in qualified nontaxable distributions. They can make contributions to a Roth IRA as long as they do not go over the lesser of their compensation or $2,000. When they make contribution to a regular IRA, their contribution limit to the Roth IRA decreases. The Roth IRA shares many rules with the regular IRA although there are differences in major areas. For instance, contributions are not deductible, can be made after age 70.5, and are not affected by participation in a company-sponsored qualified retirement plan. Moreover, excess modified adjusted gross income has a phase-out range from $150,000 to $160,000.
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Details
- Title
- The Roth IRA
- Creators
- Anthony P Curatola
- Publication Details
- Management accounting (New York, N.Y.), Vol.79(4)
- Publisher
- Institute of Management Accountants
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Accounting
- Identifiers
- 991020531870604721