Appendix C: Manual Journal Entry Template ............................................................................................... 1. accounting principles, and stored in a uniform and consistent manner for easy accessibility. knowledgeable of journal entry policies and procedures.
The earned income includes compensation from salary, wages, commissions, bonuses and alimony. Income from interest, dividends, annuities or pensions does not count as earned income in the eyes of the IRS. The contribution limit for a Roth IRA is the same as the contribution limit for a regular IRA.
When contributing to both a 401k and an IRA, consider contributing to a Roth IRA. Since you won't be deducting IRA contributions, a Roth IRA may be ideal. Roth IRAs will allow you to make the maximum contribution ($5,000 per year) and receive your withdrawals free of income tax.