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Retirement Planning Help Brigham City UT

Confused about whether you can contribute to a Roth IRA? Try using these simple rules. To contribute to a Roth IRA, you must have compensation (e.g., wages, salary, tips, professional fees, bonuses). Read and get more info from the following.

Mr. A. Wayne Margetts (RFC®), LUTCF
(801) 532-1871
175 S Main St, Ste 1050
Salt Lake City, UT
Company
LPL
Qualifications
Education: BSc (Math)MBA
Years of Experience: 16
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Gardner Tax & Accounting
(435) 656-8291
32 E 100 S, STE 202
St. George, UT
 
H&R Block
(801) 495-4172
9151 S QUARRY BLVD
SANDY, UT

Data Provided by:
H&R Block
(801) 356-1356
990 S UNIVERSITY Ave
PROVO, UT

Data Provided by:
Robert Blake Accounting and Tax
(801) 763-8295
9626 Dorchester Drive
Cedar Hills, UT
 
Mr. Gregory W. Williams (RFC®), CFP, CHFC, CLU, LUTCF, MSFS
(801) 453-2271
6340 South 3000 East, Suite 500
Salt Lake City, UT
Company
Exit Strategy Specialists, LLC
Qualifications
Years of Experience: 26
Membership
IARFC, MDRT, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided by:
H&R Block
(801) 225-4018
738 S STATE
OREM, UT

Data Provided by:
H&R Block
(435) 644-2071
40 E CENTER
KANAB, UT

Data Provided by:
Liberty Tax Service
(866) 871-1040
438 E 12300 S
Draper, UT

Data Provided by:
H&R Block Inside Sears Downtown
(801) 532-0610
754 S STATE ST
SALT LAKE CITY, UT

Data Provided by:
Data Provided by:

Retirement Planning Help

Roth IRA Contributions

Confused about whether you can contribute to a Roth IRA? Try using these simple rules:

To contribute to a Roth IRA, you must have compensation (e.g., wages, salary, tips, professional fees, bonuses). Your modified adjusted gross income must be less than:

  • $160,000 - Married Filing Jointly.
  • $10,000 - Married Filing Separately (and you lived with your spouse at any time during the year).
  • $110,000 - Single, Head of Household, or Married Filing Separately (and you did not live with your spouse during the year).

There is no age limitation for Roth IRA contributions. Unlike traditional IRAs, you can be any age and still qualify to contribute to a Roth IRA.

In general, if your only IRA is a Roth IRA, the maximum 2005 contribution limit is the lesser of your taxable compensation or $4,000. For individuals age 50 or older, the contribution limit is $4,500

The maximum contribution limit phases out if your modified adjusted gross income is within these limits:

  • $150,000-$160,000 - Married Filing Jointly
  • $0-$10,000 - Married Filing Separately (and you lived with your spouse at any time during the year)
  • $95,000-$110,000 - Single, Head of Household, or Married Filing Separately (and you did not live with your spouse)

You can make contributions to a Roth IRA for your spouse provided you meet the income requirements.

Contributions to a Roth IRA can be made at any time during the year or by the due date of your return for that year (not including...

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