Non Working Spouse

Are you a nonworking spouse? You may still be able to contribute to an IRA

AGI (Adjustable Gross Income), IRA, Retirement, Roth IRA, Spousal IRA / Douglas Freeman

Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer earns compensation. However, there’s an exception involving a […]

Are you a nonworking spouse? You may still be able to contribute to an IRA Read More »

A nonworking spouse can still have an IRA

AGI (Adjustable Gross Income), Contributions, Income Tax, Investment, IRA, Retirement, Roth IRA, Tax / Douglas Freeman

It’s often difficult for married couples to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer has compensation. However, an exception involves a “spousal”

A nonworking spouse can still have an IRA Read More »