Bill is 22 years old and works as an engineer in Denver, Colorado. Bill would like to
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Bill is 22 years old and works as an engineer in Denver, Colorado. Bill would like to know more about tax preferred retirement accounts, specifically Individual Retirement Accounts (IRAs). He would like to know more about the difference between the Traditional IRA and a Roth IRA.
What is the statutory contribution limit for a traditional IRA?
Does this amount stay the same or is there a cost-of-living-adjustment every year?
What does IRS Notice 2020-79 say about the contribution limit for traditional IRA's for 2021?
Related Book For
South Western Federal Taxation 2015 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781285438290
18th Edition
Authors: James Smith, William Raabe, David Maloney, James Young
Posted Date: