What Are The Types Of Iras?
October 10th, 2008 | by admin |There are several types of Iras that a person can make Ira contributions to. These types are the Roth Ira where the contributions that are made with after tax monies and there is no tax impact on the Ira or withdrawals from the Ira. There is the traditional Ira where the contributions are often tax deductible, there is no tax impact within the Ira but the withdrawals of the monies are taxed as income. There is the SEP Ira which is an Ira that an employer can make contributions to instead of to a pension fund. There is the SIMPLE Ira that is basically just a simplified pension account for the employee and employer to both make Ira contributions to. There is also the Self Directed Ira that is started by the holder.
