Tax Benefits & Contribution Limits: Roth vs. Pre-tax (Part 2)
May 24, 2024
After explaining the basics of Roth (after-tax) vs. pre-tax contributions, Britton Noble, Financial Advisor at The Noble Group, discusses the potential tax benefits and contribution limits of 401(k)s and IRAs.
Contributions to a traditional IRA may be tax deductible in the contribution year, with current income tax due at withdrawal. Withdrawals prior to age 59 ½ may result in a 10% IRS penalty tax in addition to current income tax.
Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC.
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