does putting money in your 401k, roth ira and a 529 plan lower your tax braket?


Posted May 31st, 2009 by admin 3 Comments »
401k
ferl k asked:


Just say u made 155,000 a year and a certain % went into 401k like 15,000 and then another 1200 in 529.lowering u to another tax braket?

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Posted in United States | 3 Comments »

What are the differences between a money market IRA and a roth IRA?


Posted March 30th, 2009 by admin 3 Comments »
ira
va_girl asked:


I opened a money markey IRA, and was going to converit it to a Roth IRA (im 23) and have rolled my $3,500 from my 401K into my new IRA. When will I have to pay taxes on my $3,500 and when will I pay taxes on my new contributions? Im not sure if I should keep the money market, or change to the Roth. Thanks!

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Posted in United States | 3 Comments »

What form to modify excess IRA contribution?


Posted March 30th, 2009 by admin 2 Comments »
ira
chillair23 asked:


I just realized that I contributed $1000 to ROTH IRA for 2007, but I also contributed $4000 to Traditional IRA. I assume it is not ok, but I don’t know what I should do now. I don’t think it will affect my refund, but do I still need to file corrections? Thanks for any help!

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Posted in United States | 2 Comments »