{"id":107,"date":"2015-06-09T17:11:18","date_gmt":"2015-06-09T17:11:18","guid":{"rendered":"http:\/\/belbolcpa.com\/blog\/?p=107"},"modified":"2015-06-09T17:13:56","modified_gmt":"2015-06-09T17:13:56","slug":"traditional-ira-vs-roth-ira","status":"publish","type":"post","link":"https:\/\/belbolcpa.com\/blog\/traditional-ira-vs-roth-ira\/","title":{"rendered":"Traditional IRA vs. Roth IRA"},"content":{"rendered":"<p><em>Traditional IRA<\/em>:<\/p>\n<p>An individual retirement account that allows individuals to contribute pretax money to investments. The investments grow tax-deferred until the amounts are withdrawn at retirement, generally age 59 1\/2. The maximum amount you can contribute for 2015 is the lesser of your taxable compensation or $5,500 ($6,500 if you are 50 or older). There are phase-outs for tax deductible contributions if you or your spouse are covered by a retirement plan at work and your income exceeds certain levels.<\/p>\n<p><em><a href=\"http:\/\/www.njmedicalcpa.com\/healthcare-tax.htm\" target=\"_blank\">Roth IRA:<\/a><\/em><\/p>\n<p>An individual retirement account that allows individuals to contribute after-tax money to investments. The investments grow tax free and there are no taxes when withdrawn at retirement, generally age 59 \u00bd. The maximum amount you can contribute for 2015 is the lesser of your taxable compensation or $5,500 ($6,500 if you are 50 or older). The eligibility to contribute starts to phase-out once your modified adjusted gross income reaches $183,000 if your filing status is married filing jointly and $116,000 if single or head of household.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Traditional IRA: An individual retirement account that allows individuals to contribute pretax money to investments. The investments grow tax-deferred until the amounts are withdrawn at retirement, generally age 59 1\/2. The maximum amount you can contribute for 2015 is the lesser of your taxable compensation or $5,500 ($6,500 if you are 50 or older). There [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[10,11,18],"tags":[37,38,48,72,73,55],"class_list":{"0":"post-107","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-investments","7":"category-ira","8":"category-taxes","9":"tag-investments","10":"tag-ira","11":"tag-retirement","12":"tag-roth","13":"tag-tax-deferred","14":"tag-taxes","15":"entry"},"_links":{"self":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/comments?post=107"}],"version-history":[{"count":3,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/107\/revisions"}],"predecessor-version":[{"id":110,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/107\/revisions\/110"}],"wp:attachment":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/media?parent=107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/categories?post=107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/tags?post=107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}