Individual Retirement Accounts (IRA) provide tax advantages for retirement savings. You can contribute each year up to the maximum amount allowed by the IRS.
Traditional IRA
Contributions typically are tax-deductible. You pay no taxes on IRA earnings until retirement, when withdrawals are taxed as income.
Roth IRA
Contributions are made with after-tax funds and are not tax-deductible, but earnings and withdrawals are tax-free.
SEP IRA
Allows an employer, typically a small business or self-employed individual, to make retirement plan contributions into a traditional IRA established in the employee's name.
