Fix This Roth IRA Mistake Before the IRS Nails You
Date: Oct 09 2012
Filed under: Taxes
Using IRAs to save for retirement is one of the smartest moves you can make. What’s not smart, however, is breaking the IRS rules governing IRAs.
Fortunately, if you accidentally break the rules, you can go back and fix things — as long as you don’t wait too long.
How Much Is Too Much
One key rule you have to follow with retirement accounts is not to contribute too much in any given year. Typically, the limit on contributions is $5,000. It’s $6,000 if you’re age 50 or older.
But a special…
Fix This Roth IRA Mistake Before the IRS Nails You originally appeared on DailyFinance.com on 2012-10-08T15:15:00Z.
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