Now that the tax season is in full swing, a lot of people are asking me about contribution limits for 2013. Whether you have traditional IRAs and/or Roth IRAs; the rules and laws are sometimes a little confusing. The following flow charts should help make it easier for you to understand the new contribution rules.
And if a picture is worth a thousand words; then maybe a flow chart is worth a few hundred words. So, I’ll do you a favor and save the words, here are the flow charts.