2 ms·
You don't get a tax deduction for contributing to a Roth IRA. And if you have high income (above 100Kish) you won't get a deduction for a traditional IRA either
by badkins 15y ago
You don't get a tax deduction for contributing to a Roth IRA. And if you have high income (above 100Kish) you won't get a deduction for a traditional IRA either.
- jarin 15y agoOops, I'm thinking of the Saver's Credit, which does seem to be available for Roth IRAs, but you're right that it's only for under a certain income. http://www.irs.gov/newsroom/article/0,,id=107686,00.html http://www.irs.gov/newsroom/article/0,,id=107686,00.html
- triviatise 15y agoYou can form your own company then contribute up to 49K into a SEP IRA. There are some complexities around self employed which have limits of 18% of net profit. Still you can contribute a lot more than a 401K or IRA