Individual retirement accounts

Assignment Help Accounting Basics

Reference no: EM13330235

Individual Retirement Accounts

Under certain circumstances taxpayers can contribute to a regular or Roth IRA. Discuss the pros/cons of each type of IRA. If this type of account is supposed to encourage taxpayers to plan for retirement, should there be limits to the amount that can be deposited into the account? Should contributions be phased out based on income levels? Should individuals 50 years or older be allowed to have larger contributions amounts?

Reference no: EM13330235

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