Timothy Sumer

Welcome to Talk 2 See! In this video, Barney talks about the possible increases in limits for different retirement accounts and what that could mean for your future. Inflation has been at a record-high for the whole year and there is no sign of it stopping anytime soon. Given these levels of inflation, Barney talks about the possible estimations ahead of the IRS announcing the limits in November. If you want to learn more about retirement accounts: If you want to play around with the compound calculator: Hope you enjoy... Subscribe! Follow us on Instagram (@Talk2See): Follow us on Twitter (@Talk2See): Follow us on TikTok (@Talk2See): If you want to jump around: 00:00-00:45 Limits are Increasing! 00:45-1:18 Roth Recap 1:18-1:56 401k Recap 1:56-2:21 What is the Increase? 2:21-3:48 Difference It Makes 3:48-4:10 SUBSCRIBE!... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Acco

Make sure you take advantage of the extra contributions you can make to your ROTH IRA account in 2023! Full video on our YouTube channel. . . . . . . . #ROTH #IRA #Limits #2023 #RetirementAccounts #PersonalFinance #IRS... ( 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 The Internal Revenue Service (IRS) recently announced an increase in the annual contribution limits for Roth IRAs for the 2023 tax year. The new limits are $6,500 for individuals and $13,000 for married couples filing jointly. This is an increase of $500 and $1,000, respectively, from the current limits. The Roth IRA is a type of retirement account that allows individuals to save for retirement on a tax-free basis. Contributions are made with after-tax dollars, meaning that the money is taxed before it is deposited into the account. However, when the money is withdrawn

In this video, I will walk through the rules and benefits of a Roth IRA. You should set up one of these retirement accounts early in your career and continue to contribute each year. I show an example of a married couple withdrawing funds from their ROTH IRA account early and you'll be able to see how much in tax and 10% penalties they have to make. I make an important point of having earned income in order to make a contribution. Here is a chart I reference in the video relating to the phase-out on the maximum contributions you can make to a ROTH IRA based on your modified adjusted gross income. 🛑 SUBSCRIBE! : shorturl.at/fL014 About my channel: Rob CPA channel was created with a mission to provide viewers with accurate content so they can be proactive in their tax planning strategies and build financial wealth. The video topics I selected reflect real-world issues that I’ve seen our clients experience relating to their personal tax returns, retirement plans,