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TAX POWER HOUR: Retirement Plans, 401k, TRADITIONAL IRA, ROTH IRA, and Cash Balance Plans by Hector Garcia, CPA…(read more)
LEARN MORE ABOUT: IRA Accounts
INVESTING IN A GOLD IRA: Gold IRA Account
INVESTING IN A SILVER IRA: Silver IRA Account
REVEALED: Best Gold Backed IRA
Do you have a video to show me how to record the IRA contribution in online QB? I just started using QB online and need to make 2017 contribution but am not sure how to record it. Especially since I will be making a payment for 2017 in 2018. Do I record it as a 2018 expense or 2017?
you should always do some in a traditional because you save your marginal tax rate when it goes in and when you start to pull it out, you can pull out some tax free (exemptions/deductions) and then you pull out some at the lowest tax bracket of 10%, then 15%. So always, always put some into the traditional. It is stupid to pay money at your highest marginal tax rate that you can withdraw at a zero to low tax rate. Make sense? Help me if I am wrong.