Use this letter to help clients choose between a traditional IRA contribution and a Roth IRA contribution.
Topics covered include the following:
- Make Sure you Received Eligible Compensation for the year
- Check Your MAGI Limit for Eligibility for Roth IRA Contributions
- Check Eligibility for Deductibility of Traditional IRA Contributions
- 4: Choose Wisely for Nondeductible Traditional IRA vs. Roth IRA
- Illustration:
- Check Suitability
- You Can Split the Difference