West Loop Financial LLCThe Knockout Punch In The IRA Grudge Match – West Loop Financial LLC https://www.westloopfinancial.com Evolutionize Site Wed, 19 Aug 2020 20:50:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.22 The Knockout Punch In The IRA Grudge Match https://www.westloopfinancial.com/2014/06/09/the-knockout-punch-in-the-ira-grudge-match/ https://www.westloopfinancial.com/2014/06/09/the-knockout-punch-in-the-ira-grudge-match/#respond Mon, 09 Jun 2014 18:16:27 +0000 http://evolvemypractice.com/?p=994 There’s an ongoing battle in the financial realm pitting the Roth IRA against its older cousin, the Traditional IRA.  Most of the debate, however, is rendered irrelevant because it doesn’t consider the Traditional IRA’s fatal flaw. Tale of the Tape: The IRA debate is almost entirely about taxes.  As long as you meet certain income requirements,...

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]]> There’s an ongoing battle in the financial realm pitting the Roth IRA against its older cousin, the Traditional IRA.  Most of the debate, however, is rendered irrelevant because it doesn’t consider the Traditional IRA’s fatal flaw.

Tale of the Tape:

The IRA debate is almost entirely about taxes.  As long as you meet certain income requirements, Traditional IRAs offer you the opportunity to claim a tax deduction up to the maximum contribution limits in the tax year for which the contribution is made, but every dollar that is ever distributed from the IRA will be taxed as ordinary income in the year of distribution.

Read the rest of the article on Forbes.

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