The Seven Rules of the Road for Tax Advantage Accounts

Sean Malaney is the author of solo 401k the solopreneurs retirement account. He says there are seven rules of the road for tax advantage accounts. Rule one: Income limits on contributions to Roth IRAs rule two, their income limits on the ability to deduct contributions to traditional IRAs. Rule four: All tax advantage retirement accounts have annual contribution limits.Rule five: There are penalties for taxable draws prior to age 59 and a half.