| |
Roth
IRA
The Roth IRA does not permit you to deduct your contributions from your income at tax time, but you pay no taxes on your earnings, provided you do not withdraw them before your IRA has been established for at least five years, and you make withdrawals under certain circumstances. You can contribute to a Roth IRA regardless of whether you are also
covered by an employer-sponsored plan, if you meet the following income
criteria:
|
Maximum Modified Adjusted
Gross Incomes for Roth Eligibility
|
| Filing Singly |
Filing Jointly |
| up to $95,000 |
up to $150,000 |
phased out between
$95,000 and $110,000 |
phased out between
$150,000 and 160,000 |
 |
This information is only an overview of IRA matters. Because the laws
governing IRAs are so complex, please consult your tax adviser. This information
is not intended to provide tax or other legal advice. In addition, this
information only addresses the federal income tax aspects of IRAs and
is not intended to address the state or local tax aspects. Please consult
your tax adviser about state and local taxes.
To see how the Roth
IRA compares to the Traditional IRA, click
here.
For more information
about an Armada Funds No Annual Fee Roth IRA, contact your financial consultant or call 1-800-622-FUND (3863).
|
