3 ms·
A little math on Mitt Romney’s IRA
- mike626 14y agoHis 401(k) could simply be a self-directed investment account. I have one that is a Roth IRA. You are limited in what can be deposited into the account, but it can grow without limit from capital gains.
- sc68cal 14y agoTPM has a good article on some of the loopholes that could have been exploited, and also links to a more technical discussion of some possibilities, revolving around the UBIT (Unrelated Business Income Tax) on pages 40-48. http://tpmdc.talkingpointsmemo.com/2012/07/romney-offshore-ira-tax-avoidance.php?ref=fpb http://tpmdc.talkingpointsmemo.com/2012/07/romney-offshore-i... http://www.law.nyu.edu/ecm_dlv2/groups/public/@nyu_law_website__academics__colloquia__tax_policy/documents/documents/ecm_pro_067812.pdf http://www.law.nyu.edu/ecm_dlv2/groups/public/@nyu_law_websi...
- fourspace 14y agoAren't the contribution limits on IRAs only referring to the tax deductible portion? I thought you could contribute after-tax dollars without a limit.