Can you explain the Education IRA?

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	Can you explain the Education IRA? By The-Adviser.com -
SERVICES Money Management Portfolio Reviews 401(k) Rollovers Retirement Financial Plans Estate Plans College Savings Clients Only WHY US Benefits Available Services "Interview Us" Fee Information Disclosures Applications THE COMPANY Background Philosophy The Press Policies Opportunities LINKS Home Page Related Links Stock Quotes	New York - The Education IRA is a separate IRA account for a named beneficiary to save for higher education. This account is funded by non-tax deductible contributions. Earnings of this account are subject to inclusion in gross income and an additional 10% tax upon distribution should it exceed qualified higher education expenses. The following are other key characteristics: Contributions of up to $500 annually are allowed which is in addition to the $2,000 regular IRA limit. Contributions may be made regardless of whether the beneficiary has gross income Contributions may not be made after the beneficiary has reached 18 Income limitations for contributions begin at $150,000 for married taxpayers filing jointly and $95,000 for single taxpayers. The key benefit of the account is the tax-deferred aspect of the earnings whether capital gains or dividends until the year of distribution. An independent Fee-Only financial adviser can help you determine the most appropriate IRA strategy. About Us The Independent Adviser Corporation is a 100% Independent and 100% Objective Financial Advisory Firm that writes buy-side investment research. Our network of independent Fee-Only Financial Advisers serves individuals, families and businesses. They provide financial planning services, tax advice and offer professionally managed asset accounts. They do not underwrite corporate securities nor do they sell any proprietary products. To find out more or get a FREE consultation Ask The-Adviser.com or call 1-800-ADVISER.	Education IRAs are suitable accounts for saving for education purposes. Got an investment question? Ask The-Adviser.com Open a professionally managed account: Brokerage Accounts Traditional IRAs Roth IRAs 401(k) IRA Rollovers 403(b) IRA Rollovers College Savings Retirement Savings Top Ten Investment Picks Financial Advisory Services Money Management Retirement Planning Portfolio Reviews 401(k) Rollover Assistance College Savings Financial Plans
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