Ask Question
BusinessBusiness
19 July, 06:08

What is the difference between a traditional IRA account and a Roth IRA account?

+1
Answers (1)
  1. 19 July, 08:27
    0
    Traditional IRA contributions are tax deductible on both state and federal tax returns for the year you make the contribution, while withdrawals in retirement are taxed at ordinary income tax rates. Roth IRAs provide no tax break for contributions, but earnings and withdrawals are generally tax-free.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What is the difference between a traditional IRA account and a Roth IRA account? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
An automated car wash serves customers with the following serial process: pre-treat, wash, rinse, wax, hand dry.
Answers (1)
Your firm has securities available from a SEC Reg D private placement of variable life policies, which are unregistered. One of your fellow RRs would like to place an ad in a financial newspaper regarding the availability of the securities.
Answers (1)
Economic efficiency indicates that a. all pollution should be eliminated. b. automobiles should be made as safe as possible c. if something is worth doing, you should do it as well as humanly possible. d.
Answers (1)
Sheridan Co. leased equipment to Union Co. on July 1, 2021, and properly recorded the sales-type lease at $146000, the present value of the lease payments discounted at 9%.
Answers (1)
In 1907, the first green jacket golf championship was held. the winner's prize money was $270. in 2015, the winner's check was $1,630,000.
Answers (1)
New Questions in Business
Dartmouth College professor M. Eric Johnson, in collaboration with Tiversa, Inc., a company that monitors peer-to-peer networks to provide security services, wrote an article titled "Data Hemorrhages in the Health-Care Sector.
Answers (1)
Mr. Jackson purchases a home for $90,000. He paid $4,000 as an earnest money deposit, and is obtaining an 80% loan. Costs include $250 for title insurance, recording fees of $60, and a tax proration fee of $430. Mr.
Answers (1)
The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 310,000 $ 35 B 410,000 40 C 510,000 15 D 710,000 20 The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals
Answers (1)
Why do companies using a horizontal structure have cultures that emphasize openness, employee empowerment, and responsibility? What do you think a manager's job would be like in a horizontally organized company?
Answers (1)
How would a rise in business investment affect the aggregate demand curve?
Answers (1)
Home » Business » What is the difference between a traditional IRA account and a Roth IRA account?
Sign Up Forgot Password?