With tax season around the corner many contemplate funding their IRA or Roth IRA accounts. Sometimes you may wonder which is better for you. We thought this article may help you as you debate the differences and which might be best for your situation. Contribution limits for 2012 remained level at $5,000 with an additional $1,000 available for those age 50 or older. It may be helpful to know that in 2013 these limits increased slightly to $5,500 (age 49 or younger) and $6,500 (age 50 or older). Also remember that Traditional IRAs must be established by the tax-filing deadline (without extensions) for the tax year to which your qualifying contribution(s) may apply.
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