Watch My Updated Video Next! Watch My Updated Video Next! The BEST Self Employed Retirement Accounts (Full Guide) ua-cam.com/video/al_x30H5zDU/v-deo.html
misleading video/false advertisement: Statement at 00:08: "Anyone, I repeat, ANYONE, can take advantage of the IRA tax break..." while the rest of the video specifies long established exceptions: if you are covered by retirement plan at work and make over $xx, no tax break at the time of the contribution.
Thank you so much for being clear about this. I am enrolled in a certificate program. I wasn't sure if I needed to put the amount that was contributed from both couples (married and filing jointly) on line 32 of the 1040 tax form. I was mistaking IRA deduction as a withdrawal.
What happens if your taxable income after taking the standard deduction is already zero? It seems that the standard deduction would cancel out your IRA deduction, so you would end up paying taxes on your IRA contribution 2X. Is that correct?
All credibility goes out the window when he mispronounces “Contribute” …over and over. Makes you ask what else is wrong about his advice. Is this a region thing?
Watch My Updated Video Next! Watch My Updated Video Next! The BEST Self Employed Retirement Accounts (Full Guide) ua-cam.com/video/al_x30H5zDU/v-deo.html
misleading video/false advertisement: Statement at 00:08: "Anyone, I repeat, ANYONE, can take advantage of the IRA tax break..." while the rest of the video specifies long established exceptions: if you are covered by retirement plan at work and make over $xx, no tax break at the time of the contribution.
Thank you so much for being clear about this. I am enrolled in a certificate program. I wasn't sure if I needed to put the amount that was contributed from both couples (married and filing jointly) on line 32 of the 1040 tax form. I was mistaking IRA deduction as a withdrawal.
What happens if your taxable income after taking the standard deduction is already zero? It seems that the standard deduction would cancel out your IRA deduction, so you would end up paying taxes on your IRA contribution 2X. Is that correct?
Great video as always.
Thanks again, Ryan! You know how much your comments help :)
Is the six thousand dollar limit for any amount of gross income? Or do they let you put an amount in based on a per cent age of your annual income?
Are the income limits to receive tax deductions for traditional Ira's based on adjusted gross income? I thought they were.
You still gotta pay taxes on it when you withdraw.
Abeg. Why do you say CON-tribute 🤣
Abeg??
@@LYFEAccounting It's like a "come on now"
All credibility goes out the window when he mispronounces “Contribute” …over and over. Makes you ask what else is wrong about his advice. Is this a region thing?