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Individual Retirement Accounts
Earn tax-sheltered interest while you save for
your retirement.
Traditional IRA contributions are generally
tax-deductible, creating the opportunity for you to save for the future
by reducing today's tax liability. Plus, your earnings grow tax deferred.
- Annual contribution up to $4000 ($5000 if over age 50)
- May be tax deductible depending upon your income
- Principal and earnings tax deferred until withdrawn
Are you getting ready to move or change
jobs? A Rollover IRA allows for the tax-free movement of funds from a qualified
retirement plan (such as 401(K), pension or profit sharing plan) to an IRA, to
allow for continued tax sheltered growth of funds.
The Roth IRA gives you
flexibility in saving and provides a new way to accumulate tax-free funds for
the future. The Roth IRA allows your investment dollars to build and be
withdrawn tax-free under certain conditions.
- Annual non-deductible contribution up to $4000 ($5000 if over age 50)
- Interest is tax free after 5 years or age 59 1/2 (whichever is longer), disabled, deceased or first
time home purchase
- Contributions not taxed when distributed
- Conversions from Traditional IRA permitted
The ESA can provide benefits and relief in funding a student's education.
- Annual non-deductible contribution up to $2000 per child under age 18
- Distributions are generally tax and penalty free if used for qualified
education expenses (such as tuition, fees, books, supplies and room & board.
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