The Roth IRA Rules 2013 will be important because they will influence how much, and what ways you are able to use your Roth IRA. The rules from year to year are never exactly the same but will share certain similarities. For example, your contribution limits will be determined first by your age, then by your tax filing status, and finally by your income.
The details about the Roth IRA Rules 2013 have not yet been released by the IRS, but this page will be updated the moment that they are released. If you were looking for the rules for 2012 please visit our article on the topic : Roth IRA Rules 2012
Roth IRA Rules 2013
(As of November 2012)
There are many Roth IRA Rules that change from year to year. The most important rules are regarding how much you are allowed to contribute to your account. These rules are commonly referred to as contribution limits, and by January 2013 we should have the 2013 Roth IRA Contribution Limits available to you.
Some of the general Roth IRA rules are that you can only contribute if your Modified Adjusted Gross Income (Your MAGI) is less than a certain income limit cutoff. For example, in 2012 the cutoff for single people was $125,000, which means if you made more than that you could not contribute.
There is also a lower cut-off where if you make less than that you can contribute fully. As you can see there is a range in-between the upper and lower cutoffs, so that is an additional Roth IRA rule for this situation. You are still permitted to contribute, but no the full amount. This amount is determined by how close you are to each side of the limits.
Status of Roth IRA Rules 2013
If you are reading this post, you have done a great job of thinking ahead. Make sure to use your head start to try and plan out your finances and then come back here near the end of the year in order to find the updates that are relevant to you about the 2013 Roth IRA rules.
You may be interested in learning about the Roth IRA Rules in 2012.