Broker Check

Account Types/Registrations

Qualified Accounts for Employers or Employees

These account types have tax advantages that meet certain IRS Codes.

Employer Sponsored Plans - 401(k), 403(b), 401(a), SIMPLE IRA
(Note - You can usually obtain free non-specific advice on these accounts
through your plan administrator).

Self Employed Plans - SEP IRA, Keogh

See IRS publication 560 for Retirement Plans for Small Businesses.
http://www.irs.gov/publications/p560/

Qualified Accounts for Individuals

These account types have tax advantages that meet certain IRS Codes.

IRA** (Individual Retirement Account)
Contributions are tax deductible based on AGI phase out limits
Tax Deferred Growth
Required Minimum Distributions must start at age 70 1/2
In most cases can not contribute after age 70 1/2
2019
Max yearly contribution (2019) (a $500 increase from 2018)
–$6,000 or $7,000 @ age 50
Max Adjusted Growth Income (AGI) phase out tax deductibility
(2019)
–$103,000 to $123,000 Joint / $64,000 to $74,000 Single
Required Minimum Distributions must start at age 70 1/2
2018
Max yearly contribution (2018, no change from 2017)
–$5,500 or $6,500 @ age 50
Max Adjusted Growth Income (AGI) phase out tax deductibility
(2018)
–$101,000 to $121,000 Joint / $63,000 to $73,000 Single

ROTH IRA**
Contributions are NOT tax deductible and contributions are restricted by income levels
Tax Free Growth
NO Required Minimum Distributions
Ok to contribute after age 70 1/2
2019
Max yearly contribution (2019) (a $500 increase from 2018)
–$6,000 or $7,000 @ age 50
Max Adjusted Growth Income (AGI) phase out allowing contributions (2019)
–$193,000 - $203,000 Joint / $122,000 - $137,000 Single
2018

Max yearly contribution (2018, no change from 2017)
–$5,500 or $6,500 @ age 50
Max Adjusted Growth Income (AGI) phase out allowing contributions (2018)
–$189,000 - $199,000 Joint / $120,000 - $135,000 Single

**See IRS publication 590 for ROTH IRA and IRA qualifications. https://www.irs.gov/uac/About-Publication-590A

**See qualified plan Contribution Limits for details.

Non-Qualified Accounts***

  • Individual - one owner
  • Joint - more than one owner
    • (JTWROS) Joint with Rights of Survivorship
    • (TIC) Tenants in common
  • Accounts for Minors
    UGMA - Uniform Gifts to Minors Act
    UTMA - Uniform Transfers to Minors Act
  • Trust - Revocable vs Irrevocable

Other Account Types

• 457(b) Deferred Compensation Plan - (Government and Non-Government).

Risk for each category varies.

Please contact Kim Doleman, Investment Advisor Representative, for more details.

Some assets held in various Account Types/Registrations may or may not offer tax benefits. Investors should consult with their tax advisor or Certified Public Accountant for their own personal situation.

*please see below for important disclosure