Posted on Feb 18, 2016
A myRA (“my Retirement Account”) is a simplified Roth IRA that belongs entirely to you. Roth annual contribution limits apply to these retirement accounts and your funds are invested in government-guaranteed Treasury securities. You can choose to contribute to your account from your paycheck by completing a direct deposit authorization form and giving it to your employer. In addition, the Department of Treasury recently added new ways to fund myRAs. Now you also have the option of making direct deposits from a checking or savings account or from your federal income tax refund. To learn more about myRAs, please contact us.
Gilliland & Associates, PC is a full-service CPA firm specializing in tax planning for individuals and businesses in the Northern Virginia area. We are based in Falls Church, VA and also service clients in the McLean and Tysons Corner, VA. Gilliland & Associates specializes known for our superior knowledge and aggressive interpretation and application of tax laws, we help you keep more of your earnings by finding you the lowest possible tax on your business or personal tax return. You can connect with us on Google+, LinkedIn, Facebook, and Twitter.