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Traditional IRAWhat is a Traditional IRA and What are its Benefits?Traditional IRAs offer a tax-advantaged approach to accumulating funds for retirement. Benefits include:
Are Traditional IRA Contributions Deductible?For 2007, if you are covered by a retirement plan at work, your deduction for contributions to a Traditional IRA is reduced (phased out) if your modified Adjusted Gross Income (AGI) is:
For 2007, if you are not covered by a retirement plan at
work, your deduction for contributions to a traditional IRA may be reduced
(phased out) if you either live with your spouse at any time during 2007 or
file a joint return for 2007. Source: Internal Revenue Service (IRS) Early Withdrawal ExceptionsIn most cases, a withdrawal from a traditional IRA before age 59½ is subject to a 10 percent IRS penalty in addition to ordinary income taxes. However, there are exceptions. These include:
Contact Atlantic FinancialFor more information or to have us answer any questions you may have, please call 1-800-559-2900, , see our contact Atlantic Financial page, or use this form to contact us: Also See: Rollover IRAs| Roth IRAs| SEP IRAs| Traditional IRAs |
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Financial Planning and Investment ServicesAtlantic Financial has been serving clients since 1994. Atlantic Financial enjoys a solid reputation for service, selection and value. We can review your wealth management plan, assist with your or 401k / IRA Rollover and assist you with global wealth management.
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