Traditional, Roth, Rollover, and SEP IRAs
Getting started is easy. Fill out the standard new account application online. Your IRA Brokerage account will then be established and an account #number issued. There are restrictions that could affect how much you can contribute and what you can deduct on your tax return. Please check with an accountant.
A Rollover IRA is a tax-free reinvestment of a distribution from a qualified retirement plan including a 401k plan or IRA to another qualified IRA account within 60 days of distribution.
A new type of IRA that was established in the Taxpayer Relief Act of 1997, allows taxpayers, subject to certain income limits, to save for retirement while allowing the savings to grow tax-free. Taxes are paid on contributions, but withdrawals, subject to certain rules, are not taxed at all.
The SEP-IRA (Simplified Employee Pension Plan) is a retirement plan for small businesses with any number of employees but typically opened by sole proprietors with no employees. Available to sole proprietors, partnerships, and corporations including sub-chapter S corporations, non-profits, and government agencies.
- Employers make all contributions to plan.
- Contributions are immediately vested.
- Employees direct the investments within their individual SEP-IRAs.