Taxes and Retirement Planning

Begin with the basics – how much can you contribute this year, and how can an IRA potentially help reduce taxes.

• IRA contribution limits and eligibility
• Retirement plan contributions at a glance (PDF)*
• Why open an IRA?
• Saver’s tax credit (PDF)*

Roth and Traditional IRAs have different tax implications. How will a Roth conversion affect your tax bill and what options do you have if you want to change your mind?

• Compare Traditional vs. Roth IRAs
• Converting to a Roth IRA
• Traditional and Roth IRA overview (PDF)*
• Understanding IRA recharacterization (PDF)*

The deduction you may receive when contributing to a Traditional IRA is just one of the potential tax advantages of retirement accounts.

• Comparing your IRA choices (PDF)*
• Five beneficiary planning strategies (PDF)*
• The pro-rata rule for after-tax money in an IRA (PDF)*
• How to correct excess IRA contributions (PDF)*