A Roth IRA lets you make a non-deductible contribution. Since you have already paid taxes on the income, you do not receive any tax deduction for the contribution. However, you do benefit by the growth of your assets and do not have to pay any taxes when you take a distribution from the Roth IRA.
The Roth IRA was established by the Taxpayer Relief Act of 1997. Some of the advantages of the Roth are
- direct contributions to the account may be withdrawn tax-free anytime
- investment earnings grow tax-free
- after a five-year aging period, you may be able to withdraw funds and earnings completely tax-free
- you may convert your current Traditional IRA to a Roth regardless of your income
- there is no required distributions based on age
Click here for more information about Roth IRA plans.
|Under age 50||Over age 50|
|Tax Year 2014||$5,500||$6,500|
|Tax Year 2015||$5,500||
As with the Traditional IRA, you open your investment possibilities to a wide range of asset types by opening a Roth IRA with Kingdom Trust. You are offered the ability to hold investments such as real estate, private companies (LLCs, LPs, or stock), private debt (promissory notes, loans, and mortgages), and precious metals.
To open your Roth IRA with The Kingdom Trust Company, choose one of the options below:
Once you are ready to make a purchase through your IRA, you’ll need to complete one of the following processing checklists:
- Processing Checklist for General Investments
- Processing Checklist for Private Lending
- Processing Checklist for Private Equity
- Processing Checklist for Real Estate
- Processing Checklist for Precious Metals
If you have questions or need assistance, please contact us at Help@KingdomTrustCo.com or call our representatives at 888-753-6972.