PT Money » Tax and Government

HSA Insurance: What Makes an Insurance Plan HSA Compatible?

PT — Mon, 23 Aug 2010 04:56:08 +0000

I currently have an HSA compatible health insurance plan for my family. It’s great because it’s fairly inexpensive and it will cover us if anything major happens (except a baby, that is). Plus, I get to start stashing cash into my health savings account (HSA). HSA insurance is the way to go for a lot of people, especially the self-employed individual to manage health care expenses.

The HSA itself is a simple savings account created by the government where you can store tax-sheltered cash to spend on health-related expenses. It’s great in that it’s not like a flexible spending account, which is “use it or lose it”. With an HSA, you can stash the cash away and then use it only when you need it. Think of the HSA as a way to self-insure the everyday costs associated with your health.

If you want individual health insurance that includes a health savings account (HSA), you need to make sure that your health insurance plan meets the federal requirements. Since the HSA is governed by the federal government, they get to decide which plans meet the mark. Here are the two major requirements to qualify as HSA insurance:

The sum of the annual out-of-pocket expenses required and the annual deductible should not exceed a certain threshold: $5,950 for individuals and $11,900 for the families.
The health insurance plan that you purchase needs to have an annual deductible of at least $2,400 for families and at least $1,200 for an individual.

*These numbers change for inflation every year.

To make it easy for you, most insurance providers in your State will designate which of their individual plans are HSA eligible. When I signed up through ehealthinsurance.com they had a little symbol by each of the HSA insurance eligible plans. Once you have the plan, you can go to a bank, credit union, or insurance company to get your actual HSA.

See the IRS HSA Publication 969 for more information.

Roundup of Links…Ask Yourself:

Do you know how credit unions differ from banks?
Do you know if you should consider upgrading to a larger home?
Do you know the 6 key factors involved with home mortgage rates?
Do you know who’s number 1 in the J.D. Power 2010 Credit Card Satisfaction Survey?
Do you know the what’s and why’s of the secured credit card?
Do you know that schools show you how to be poor?
Do you know how to get free credit monitoring?

Projects and Giveaways:

Vote for me over at the education and wealth writing project.
Make sure you participate in the MoneyedUp $500 giveaway.

Carnivals: financial planning, personal finance, debt reduction, money stories

photo by clevercupcakes

HSA Insurance: What Makes an Insurance Plan HSA Compatible? is a post from: PT Money: Personal Finance by PT.

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Can You Count on Social Security?

PT — Thu, 22 Jul 2010 17:23:58 +0000

I can’t believe I’m trying to tackle the subject of social security right now. It’s super complex in it’s history, very controversial by nature, and the future of it’s solvency and makeup are unknown.

But, regardless of all of that, you and I both pay into the Social Security system. So it’s worth it to look close enough to at least provide an estimate of how much of your money you’ll be getting back, right?

Social Security 101

When people use the term social security they are actually referring to the social insurance program, the Federal Old-Age, Survivors, and Disability Insurance program established by the Social Security Act of 1935.
Social Security is collected through FICA payroll taxes, which is 7.65% of your earnings up to $106,800.
The current normal retirement age for full Social Security benefits is 67.
The average monthly benefit for current retirees is around $1,100 a month.
Social Security is the single biggest expenditure of the federal government.

From my understanding, Social Security started out as a social program to help those with the most dire needs in our country. Now it seems that social security has become the retirement program for just about everyone. Check out this chart from a recent Social Security survey put on by the University of New Hampshire Survey Center.

Who Needs Social Security?

That’s crazy. Almost 50% say they are at least very likely to need Social Security in retirement. What about 401Ks, IRAs, etc. Is all this just lost on everyone? Maybe I’m misinterpreting what “need” means in this survey. But I don’t think I’m misinterpreting the fact that Social Security has grown to be more than it’s original intention.

How Much Are You Estimated to Get?

If you want to know how much you can expect in retirement from Social Security, visit the SSA’s estimator page.

Social Security Benefit Estimator

They also have a life expectancy calculator there. Puts me at 86 when I finally croak. You should also be receiving an annual statement from the SSA. You’ll be able to tell from that statement what you can expect in retirement.

But all this depends on the future solvency of Social Security. Will they continue cost of living increases (no increases for the last 2 years)? Will they start paying only a % of your benefit? Will they have to change the normal retirement date?

The Future of Social Security?

You hear a lot of hype about how Social Security is failing, or that it won’t be around by the time I retire. What’s the truth? Well, by the above chart I’d say that American’s won’t let it fail. When you have that many people depending on it, it’s going to remain a priority.

I just don’t see Social Security ever going away. It’s a ponzi scheme of sorts in that the earnings of the currently employed are needed to pay to those receiving the benefits. That being the case, everyone who has paid in at least 10 years of Social Security feels like they deserve to get those funds returned to them as benefits. So, once you work for 10 years, there’s no way in heck you’d say drop the whole thing. You put your money into the system, therefore, you don’t want it canceled.

The Trustees Report

Enough of my ramblings. What do the actuaries say? The Social Security trustees put out an annual report opining on the future of social security. They are required to do this just like any other investment house. Here’s what they said in their 2009 report.

“Under the long-range intermediate assumptions, annual cost will begin to exceed tax income in 2016 for the combined OASDI Trust Funds. The combined funds are then projected to become exhausted and thus unable to pay scheduled benefits in full on a timely basis in 2037. The separate DI Trust Fund, however, is projected to become exhausted in 2020.

For the combined OASDI Trust Funds to remain solvent throughout the 75-year projection period, the combined payroll tax rate could be increased during the period in a manner equivalent to an immediate and permanent increase of 2.01 percentage points, benefits could be reduced during the period in a manner equivalent to an immediate and permanent reduction of 13.3 percent, general revenue transfers equivalent to $5.3 trillion in present value could be made during the period, or some combination of approaches could be adopted. Significantly larger changes would be required to maintain solvency beyond 75 years.”

Side note: Where is the 2010 report? The 2010 trustees report has been severely delayed. That doesn’t sound good.

Can You Count on It?

If you go by the 2009 report, it looks like if you are retiring in less than 27 years (age 40 or older) you will receive your full benefit. Of course, I can’t imagine the 2010 report being better than 2009, so we’ll have to see if that holds up.

But let’s say you do get your full benefit. Is the future equivalent of $1,100 a month going to be enough for you in retirement? If that’s all you have at that time, then you’ll likely still be poor. Studies show that 12% of those on Social Security still live below the poverty line. Not a dream retirement for sure.

The moral of the story is that there a lot of moving parts here, but most of us can probably count on the future equivalent of at least $1,100 in retirement from Uncle Sam.

My advice is to play it ultra-conservative and forget about Social Security. Don’t count on it. If you get it, great. If not, no worries because you have your retirement set using your 401K and your IRA.

What’s your take on Social Security? How big of a roll do you think it will play in your retirement?

Can You Count on Social Security? is a post from: PT Money: Personal Finance by PT.

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The Difference Between the US Federal Debt and Deficit

PT — Sun, 16 May 2010 22:41:26 +0000

You hear these terms (deficit and debt) thrown around all the time in the news. I thought it might be good to share the current numbers and arm you with a brief definition of each one.

The US Federal Debt

The US Federal Debt is simply the total amount of money the US Federal Government currently owes. This money is primarily owed to the Fed and other government accounts. About 25% is also owed to foreign governments. The debt is issued in savings bonds, treasury noted, and treasury bills.

According to the US Debt Clock, we’re approaching $13 trillion in debt. Considering our population, your share of that debt is around $42K if you divide everything equally.

The US Federal Deficit

The reason we have the debt is because our government officials (Congress) create budget deficits every year. The deficit is the difference between annual spending and “income” (i.e. taxes). Congress and the President are, in effect, spending more than they earn. The deficit in 2009 was $1.4 trillion.

Even if you are a fan of Keynesian Economics, robbing from the future to pump things up now can’t be done forever, right? We’ve got to become savers at some point.

How to Protect Yourself from Future Taxes

If it seems like you have no control over what goes on in Washington, then I suggest you do something for yourself instead: open up a Roth IRA. Use your current after-tax dollars to fund this account and you’ll never pay taxes on that money, or it’s earnings again. So even if we’re paying 40% and 50% rate taxes in the future. That Roth IRA money and earnings won’t pay a dime. You can contribute $5,000 annually to this type of account. Get to it!

Personal Finance Links

My latest guest posting spots…

Interesting post from around the ‘sphere…

Has your bank acted illegally? If so, Ron from The Wisdom Journal has some nice advice about what to do. It includes a guide for contacting the Federal Reserve, who has a process for handling complaints about banks.

Are you on the hunt for a Realtor to help you sell your house? Here are some questions to ask a Realtor when selling your house. Ben from Money Smart Life shares some nice questions from other contributors as well.

Flexo from Consumerism Commentary list some of the best cash back credit cards. A nice, thorough review of today’s best cash back cards. Get money back for your spending.

Learn to live on one income before you have to. Pete from Bible Money Matters shares this very challenging post.

Jeremy from Generation X Finance shares a great list post: the 7 biggest money problems people have. Check out this post to see if you have any of these problems. More importantly, see if there is something you can do about it.

Craig from Free from Broke shares some of the reasons to like credit cards. I have a love / hate relationship with credit cards. These days they are just more trouble than they are worth for me. But I’ve used them in the past and have enjoyed the benefits.

Carnivals I participated in last week…

Frugality, Personal Finance, Best of Money, Money Stories, Festival of Stocks, Economy and Finances, Financial Planning, Financial Independence, Money Hacks

The Difference Between the US Federal Debt and Deficit is a post from: PT Money: Personal Finance by PT.

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Am I Required to Make Estimated Tax Payments on Extra Income?

PT — Wed, 21 Apr 2010 04:17:15 +0000

As you know, I recently took the leap into self-employment. I’ll (hopefully) be receiving lots of income from this venture. Most of this income won’t have any taxes withheld and will be reported on a 1099. Therefore, I’m going to need to consider making quarterly estimated tax payments. Coincidentally, I just received a related tax question from a reader:

My wife has a full time job in which taxes are withheld from her paycheck as typical with an employee/employer situation. She also has a part time job in which no taxes are withheld since she is considered an independent contractor. Is she required to pay those taxes quarterly or can we wait to file our regular return and calculate whether any additional tax liability exists? We itemize and regularly get large returns.

The short answer is yes, you should calculate and make the payments to be safe. But you may be exempt based on the amount you earn, the amount you have withheld on your W-2s, and/or the amount you paid in taxes last year. I did some research on this topic as a whole and here’s what I came up with:

Federal Tax Withholding and Estimated Tax Payments

Here in the US, taxes are paid as you earn or receive the income. If you are employed, your employer is required to withhold these taxes from your periodic pay checks. It’s up to you to tell your employer the correct amount to withhold based on your filing status and dependents. This is why you complete a W-4 when you are hired. If you are self-employed, or earn income through some other source (e.g. rental income, capital gains) where taxes aren’t withheld, then you need to make estimated tax payments on a quarterly basis.

The payments can be made using a check with Form 1040-ES, electronically using the Electronic Federal Tax Payment System, or over the phone with a credit or debit card. Or you can apply a refund from the previous tax year. The payments need to be made on the following dates: April 15, June 15, September 15, and January 15 (of the next year).

Calculate Estimated Quarterly Tax Payment

To calculate how much you need to pay in estimated taxes, do the following:

Take your income minus expenses for the period and multiply that times your marginal tax rate (taxes paid in prior year divided by taxable income). Note: If you are self employed and have to pay self-employment tax on this income, then add 15.3% to that marginal tax rate percentage before multiplying it by the income.

Estimated Tax Penalty

If you don’t make these estimated payments each quarter, then there is a chance you will face a penalty, called the penalty for underpayment of estimated tax. I say a chance because certain tax filers are exempt from this penalty. I’m not going to get into the particulars of this calculation because it’s insanely hairy depending on your details. I will say that the penalty is generally figured at the annual rate of 4% for the number of days the underpayment remained unpaid from April 16, 2010, through April 15, 2011.

Safe Harbor Rules for Non Payment of Estimated Taxes

Tax Liability Less than $1,000 – Will you owe $1,000 or more for 2010 after subtracting income tax withholding and refundable credits from your total tax? If no, then you do not need to file estimated taxes.

At Least 90% of Your Tax is Withheld – Will your income tax withholding and refundable credits be at least 90% of the tax shown on your 2010 tax return? If yes, then you do not need to file estimated taxes.

At Least 100% of Your Prior Year Tax is Withheld – Will your income tax withholding and refundable credits be at least 100% of the tax shown on your 2009 (prior year) tax return? If yes, then you do not need to file estimated taxes.

Note that these percentages may be different if you are a farmer, fisherman, or higher income taxpayer. Visit the IRS Publication 505 for more on tax withholding and estimated taxes.

My Estimated Tax Payments

I will need to start making estimated tax payments this year starting with the June payment. I no longer have my W-2 withholding, combined with the first-year child tax credit effects to give me the safe harbor, like I had in 2009. It’s because of the confusion of estimated tax payments that many small business owners first turn to a practicing CPA to help them manage this process. I’ve given you a lot to chew on above. Hopefully that will get you started with understanding estimated tax payments. Still, I’d definitely encourage you to seek professional tax advice for your specific situation.

Am I Required to Make Estimated Tax Payments on Extra Income? is a post from: PT Money: Personal Finance by PT.

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Question of the Week: What Are You Doing with Your Tax Refund?

PT — Fri, 09 Apr 2010 10:00:21 +0000

The April 15th tax deadline is fast approaching. I finally got around to filing our tax return last week. This year, thanks to our cutest little tax deduction (Little Miss PT), we’re getting a decent sized refund. I’m normally a fan of managing the with-holdings such that you don’t get too much refund. But I admit it’s nice to be getting money back.

What if You Can’t Pay Your Taxes this Year?
What if You Can’t File Your Taxes?

We used our refund money to fund half of our 2009 Roth IRA contributions. Well, technically we used money from our bank account to fund the Roth IRA. But those funds will be quickly replaced by the tax refund. Did you know that if you don’t already contribute to a 401K you can increase your tax refund by contributing to a traditional IRA?

Filed your taxes yet? You can file for free at TurboTax, TaxAct Online, or HR Block at Home.

There are lots of things you could do with you refund: save, spend, give. What do you plan to do with your refund? If you already spent the money, what did you spend it on?

Question of the Week: What Are You Doing with Your Tax Refund? is a post from: PT Money: Personal Finance by PT.

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Question of the Week: How Will You Be Affected by the New Health Care Bill?

PT — Fri, 26 Mar 2010 16:40:21 +0000

Here’s a nice infographic I found which outlines the changes coming as a result of the new health care bill that just became law.

And here’s a calculator that the Washington Post put together to help you determine an estimate of what the effects of the new laws will be to your coverage, taxes, etc.

So what’s your opinion of the new health care bill? More importantly, how will you be affected? Both by the laws, and the affects the laws have on our future economy and health care.

Question of the Week: How Will You Be Affected by the New Health Care Bill? is a post from: PT Money: Personal Finance by PT.

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H&R Block is Offering 24-Hours of Free Tax Advice

PT — Mon, 22 Mar 2010 04:26:28 +0000

A quick word for those that have yet to file their taxes. To ensure taxpayers get answers to all of their questions, H&R Block is offering 24-hours of free tax advice on Thursday, March 25.

More than 50 tax experts will answer personalized tax questions via the H&R Block Tax Talk Line from 12:01 a.m. CT through 11:59 p.m. CT. Taxpayers can call 1-866-HRBLOCK or e-mail taxtalk@hrblock.com for free advice during this time.

And if you need a place to file your taxes for free, H&R Block is a good one, along with these other free services:

Personal Finance Links

This week I was able to guest post over at Fiscal Geek. Here’s my article on, How to Start Investing for Retirement.

Contest Alert: Couple Money is giving away a Netbook Computer. Easy to enter.

Good Financial Cents presents What to Look for When Hiring an Accountant.
The Wisdom Journal shares 5 Ways to Disaster Proof Your Finances.
My Two Dollars answers the question, Should You Do a Roth Conversion?
Debt Free Adventure shares some nice Tips for Selling on Craigslist.
Money Smart Life presents How to Make Extra Money with Your Brain.

Carnivals I was in last week: Tax Help Questions, Financial Planning, Money Stories, Personal Finance, Best of Money, Taxes

H&R Block is Offering 24-Hours of Free Tax Advice is a post from: PT Money: Personal Finance by PT.

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What If You Cannot File Your Tax Return by April 15th?

Guest — Mon, 15 Mar 2010 11:00:42 +0000

The US tax deadline is approaching. We’re just one month away. If you haven’t filed your taxes by this point it probably means: (1) you owe taxes (and you’re waiting to pay at the last minute), or (2) you’re a procrastinator, or (3) you don’t have enough information. If you’re in one of those last 2 categories then here’s how you should approach this year’s filing:

File an Extension Using Form 4868 for an Automatic 6 Month Extension. This gives you until October 15th to file your tax return NOT pay your taxes. You can print the form and mail it following the directions on the form or use FreeFile to file the extension free electronically. This will save you up 25% or the 5% per month failure to file penalty on the tax debt amount. If you owe no taxes (but rather a refund) there will be no penalty assessed. However, if you don’t file, you cannot get a refund (if due) and you only have 3 years to file a return in order to get a refund.

Pay all or up to 90% of taxes owed (if you owe taxes). In fact, if the IRS does not get 90% of your estimated taxes owed on April 15th, the failure to pay penalty of .5% compounded monthly will take effect on the tax debt amount. Whenever the failure to file and pay penalty intersect in one month the total combined penalty is reduced by by the failure to pay penalty. If you cannot pay 90% of what you owe read situation 1 above.

Bottom-Line: If you cannot file your tax return on time, file an extension, instead of not filing anything at all. You can save up to 5% per month on any balance unpaid. Even if you are owed a refund, when you file you can lock in credits and deductions that will lower your tax liabilities instead of waiting for the IRS to file a return for you (which eventually will happen and they will not include all deductions and credits).

Learn more about filing your taxes for free this year.

This is a guest post from Matt Robinson at TaxDebtHelp.com. Matt has been helping Federal and state taxpayers find IRS tax debt relief for over 10 years now. His firm focuses on on tax debt solutions and has constructed a new self-help site for taxpayers to resolve minor tax problems.

What If You Cannot File Your Tax Return by April 15th? is a post from: PT Money: Personal Finance by PT.

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Common Tax Deductions for Freelancers

PT — Thu, 11 Mar 2010 08:06:05 +0000

If you are a freelancer with your own business there are numerous tax deductions that you will want to be aware of. Why? Well, a tax deduction reduces the amount of taxable income you’ll have when you file your taxes. Here is a look at some of the most common tax deductions for freelancers:

Home Office Space Deduction

If you work from home you are entitled to write off your dedicated work space. You can write off a percentage of your mortgage or rent in relation to the size of the space that you use to conduct your business. A portion of your homeowners or renters insurance is also a deduction.

Percentage of Bills

If you are using your home to conduct your business, a percentage of your utilities, phone and internet can be deducted. If you have a dedicated fax and phone line for your business, that is also a business write off.

Technology Expenses

Most everyone who runs their own business today uses some type of technology to do so. You can write off any technology purchases you make and use to conduct your business including computer equipment, computer upgrades, fax machines, internet routers, printers, web cameras, zip drives and the list goes on. Any computer software you use for your business is also deductible.

Office Supplies

This includes purchase you made on everything from your desk, filing cabinets, desk chairs to paper, pens, paper clips or any other supplies you use to conduct your business. Envelopes and the cost of postage are also tax deductions.

Business Related Expenses

This includes everything from business cards and letter head to copyright and incorporation fees.

Education, Training and Subscriptions Fees

This can be a large array of items including seminar fees, workshop fees or any other type of educational course fee related to your business. Educational magazine subscriptions, other subscription fees for anything related to your business, professional affiliation or association fees are all considered tax deductible.

On-Line Fees

If you have a website, you can deduct the cost of your domain name(s) and web hosting fees.

Travel Expenses

Any time you travel for your business there are numerous tax deductions. These include transportation expenses like parking fees, mileage, airfare, taxis, buses and trains. Other travel deductions include hotel rooms, office space rental, meals on the road and even your cleaning or laundry expenses while traveling. Some of your travel expenses will be 100% deductible while others will only be 50% deductible – consult with a tax professional if you are unsure.

Everything Else

Other expenses you can write off include your health insurance (if you are paying for it through your business), annual credit card fees paid to a credit card used for business purposes, unpaid client invoices and fees from collecting money like Paypal or bank fees. If you rent a post office box or safe deposit box for your business those fees are also deductible. Tax software and tax preparation fees are deductible as well. Finally, client related expenses like the cost of a business lunch or gifts given to clients are also tax deductible.

As you can see, if you own your own business there are numerous tax deductions you need to be aware of. In order for you not to miss anything it will be important to carefully keep track of all of your expenditures throughout the year. Always make sure to document and keep receipts for all of your expenses. A great tool to do this with is Quicken.

This article is provided for Backtaxeshelp.com, a site designed to help you with IRS back taxes. Owing back taxes to the IRS is stressful, and negligence will only worsen the situation. Learn how to pay back taxes.

Common Tax Deductions for Freelancers is a post from: PT Money: Personal Finance by PT.

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How to Find the Best Roth IRA Rates

PT — Mon, 08 Mar 2010 20:55:21 +0000

Have you ever wondered what the best Roth IRA rates are? Well, you are not alone. Many people looking to start investing for their retirement think the same thing. The problem is that Roth IRAs don’t really have rates like a savings account or CD. They are just investment vehicles (or accounts).

What is a Roth IRA?

The Roth IRA or Roth Individual Retirement Arrangement (or Account or Agreement) was created as part of the Tax Payer Relief Act of 1997. Yes, this is a US Government created retirement account. But the Government doesn’t control where the account is opened or what investments you put into the Roth IRA. They simply allow for the creation of the account and for the specific tax treatment to be applied to it. Translation: the Government doesn’t tax your retirement earnings in a Roth IRA. This tax treatment makes it essentially the opposite of a Traditional IRA or a 401K. Bottom line: it’s a good thing. Get on board.

It’s worth pointing out that a Roth IRA should be used for investing for retirement. That’s their intended purpose. Not fixed rate chasing. Contributions to a Roth IRA are limited each year ($5,000 in 2009) and certain income thresholds apply.

A Roth IRA is Not an Investment: No Rates

A Roth IRA is simply a place to stash your investments to give them a better tax treatment. However, you can put several types of investments in your Roth IRA, including some fixed-rate type investments. Your Roth IRA can contain the same types of investments that you do outside of your Roth IRA (i.e. taxable investing). Within a Roth IRA you can have money market funds, CDs, individual stocks, bonds, mutual funds, index funds, and in some cases, a savings account (some local credit unions allow this). It’s importance to note that most IRAs only have the option of the money market fund for your cash. These funds, although stable, are not FDIC Insured.

The takeaway here is that when looking into rates, you should look at what’s inside your Roth IRA. It’s what’s inside that counts! (sorry…couldn’t resist)

Check out some of the best rates on Savings Accounts and CDs.

How to Find Low Cost Investments for Your Roth IRA

While you can’t control the interest rates of return for most of your assets in a Roth IRA (see 2009 Recession as an example), you can typically control the amount of fees you’ll incur. As a general rule, the lower the need to have someone else actively manage the funds in the account, the more likely that the investment has low fees. Therefore, an index fund is going to have lower costs than say, a target-date fund or a mutual fund. If you want to avoid management fees, stay away from managed investments. Read anything by Mr. John C. Bogle for more on this. Like I said above, you can also invest in CDs and money market funds within your Roth IRA. But these typically are temporary holding places for your cash when you’re deciding on which stock or bond fund to invest in.

No Fee and Low Minimum Balance Roth IRAs

Not every institution (bank, credit union, brokerage) treats their Roth IRA the same. Some may have high minimum balance requirements. For the beginner this can be discouraging. Here are a list of the places you can open a Roth IRA, starting with some of the low-cost brokerages.

Low Cost Brokerages Offering Roth IRAs

ShareBuilder – No fees and no minimums. $4 automatic trades. $9.95 for all others. Connect it to your ING DIRECT Orange Savings Account.

Zecco – No fees and no minimums. Free Stock Trades! 10 free stock trades every month with $25,000 in assets or 25 trades per month. Otherwise, it’s just $4.50 per trade.

TradeKing – No fees and no minimums. $4.95 stock trades.

ETrade – No minimum balance requirement and no custodial fees if you use their electronic statements. $9.95 stock trades.

See more on my list of the best online stock brokers.

Large Brokerage Firms with Roth IRAs

Vanguard – This is where I have my Roth IRA. They have no fees as long as you’re in their funds and use electronic statements. And they have very low cost investment options. The only downside to using them is that their funds have high minimum balance requirements. Therefore if you don’t have at least $1,000 to invest initially, you’ll have to stick your money in their money market fund until you’ve built up enough to invest. See my walk through of the Vanguard Roth IRA account opening process.

Others you might want to check out are Fidelity, Schwab, and T.Rowe Price.

Quick Tax Tip About Roth IRAs

Did you know you can actually contribute to a Roth IRA up until you file your taxes in 2010 and have it count against your maximum contribution limit for 2009? That means you still have time to invest in a Roth IRA for 2009. Already filed you taxes? Just start saving to contribute towards your 2010 Roth IRA.

How to Find the Best Roth IRA Rates is a post from: PT Money: Personal Finance by PT.

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