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IRA, Roth IRA, Simple IRA, Contribution, Distribution – when considering Individual Retirement Arrangements (IRA’s) things can get a little confusing. The IRS has published some helpful guidelines to break things down.
Many taxpayers may have heard of Individual Retirement Arrangements, or IRAs, but some don’t know how IRAs help them save for retirement.
People can set up an IRA with a bank or other financial institution, a life insurance company, mutual fund or stockbroker. Here’s a list of basic terms to help people better understand their IRA options.
Each of these options can come with their own tax implications. To help you navigate that, Kaufman Accounting is here to help. We can walk you through you options to help you create a custom strategy that fits your unique situation. Contact us today for more information!
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