Any individual may qualify for his or her own IRA, even if they do not generate income. However, in the case of married couples, they must file a joint tax return in order to qualify for a Roth or Traditional IRA. In addition, unlike the previous IRA tax laws, if you or your spouse contribute to a 401(k) and/or company sponsored retirement program, your may now qualify for either a full or partial Traditional or Roth IRA account.

IRA is an Individual Retirement Account. Many banks can open this type of account for you. Money that is set aside in your IRA is tax-sheltered until you withdraw it after age 59?. If you do withdraw the money before you turn age 59? an additional 10% penalty tax may apply. When you opt for a lump sum payment of your pension you can have the lump sum directly rolled over into your IRA in order to temporarily postpone paying taxes. See similar questions...

Yes. Contributions of $4,000 for each spouse are allowed if the couple's wages or self-employment earnings are $8,000 or more. This rises to higher amounts after 2007. See similar questions...

Yes, subject to the income conditions above. This allows contributions of $4,000 each if the couple's earnings are at least $8,000 after 2004; higher amounts after 2007. See similar questions...

Yes, a non-working spouse is eligible to open either a traditional or Roth IRA with a maximum contribution of $4,000 in 2007. See similar questions...

Yes. The HSA can only be established as an individual account but you can assign your spouse to be a Power of Attorney on the account. However, you can use funds from your HSA to cover eligible medical expenses for your spouse and/or dependents. For maximum savings potential, both you and your spouse should have an HSA. This way, each of you can make catch-up contributions when you turn 55. See similar questions...

Any person who has not reached yet seventy five (75) years of age who receives “compensation,” that is, income from wages, salary, professional services, occupational income, selling commissions, tips or self-employment from sources within Puerto Rico and who is a resident of the Commonwealth of Puerto Rico. Compensation does not include interests, dividends, rents, royalties, income from child support or capital earnings or any other income that does not come from employment. See similar questions...

The maximum amount that can be deducted for tax year 2005 is the lesser of $5,000 or the adjusted gross income of the taxpayer, which can be attributed to professions and occupations of both spouses, even if only one of the spouses is employed. See similar questions...

If there is no conflict with any other law, you can name a beneficiary to continue receiving the payments in the event of your death. If no beneficiary has been named, the balance in your account will be part of your estate. If your IRA account is canceled because of death, there will be no cancellation penalties coming from the Department of the Treasury. See similar questions...

Yes, you can have as many accounts as you like. The Roth portion of your 401(k) or 403(b) can only be rolled into a Roth IRA. The rest of your account balance can be rolled into a Traditional IRA. See similar questions...

Contact an Information Representative by calling 1-800-843-5233. Once the auto attendant answers your call, press 2 or hold and you will be automatically transferred. The Information Representative will need the following information: name, address, phone number, date of birth, and social security number. The same information is needed for the primary and contingent beneficiaries. See similar questions...

No. IRA account disbursements include principal (amount contributed by the person) and accumulated interest. The amount received or disbursed from an IRA account will be reported as ordinary income in the tax year in which the beneficiary received the disbursement. The amount included as income shall be equal to the disbursement received, less the portion of exempt income included in said disbursement. See similar questions...

IRA stands for Individual Retirement Arrangement, and it is a retirement plan that allows you to contribute up to certain amount annually to a retirement account offering tax benefits. See similar questions...

You can invest in stocks, bonds, mutual funds, CDs, and options (covered calls only) just like a regular cash account. However, the use of margin is not allowed for IRA accounts. See similar questions...

Your password allows you access to the accounts which you are an owner or signer. If you are not able to view an account which you believe you should be able to see, contact Community State Bank customer service at 262.878.3763 during regular business hours. If you are not an owner or signer on an account, you will not be given access to that account. For example, if your spouse holds an account in his or her own name, you will not be able to view it in your household accounts. See similar questions...

Yes - you can have separate accounts. If you refer your spouse, you will receive 50 entries for the referral and 1,000 entries if he/she is approved for the American DreamCard. See similar questions...

Yes. You can give power of attorney or trading authority to anyone, which provides them the ability to trade and/or transfer funds from your account. Please complete relevent sections of your Account Opening documents. See similar questions...

Yes, as a UniSuper member you have the opportunity to open a Spouse Account. You, your spouse or your spouse’s employer can make contributions to this account. A Product Disclosure Statement can be requested from the superannuation section if you wish to take up this option. Yes you can. Please refer to the section below on Temporary Residents Departing Australia. Further information can also be obtained from the following web sites: www.unisuper.com.au and www.ato.gov.au. See similar questions...

Please contact us with your address and the names of the individuals on each account. We will consolidate the information for you. See similar questions...

Joint accounts are not permitted in this Plan. However, you and your spouse may each establish separate accounts for the same Beneficiary or you may both contribute to the same account. See similar questions...