A spousal IRA might be the right fit for you and your family.
If you file your federal income tax return as married filing jointly and meet certain other conditions, you can contribute to a traditional or Roth Individual Retirement Account (IRA) for your spouse, even if he or she has little or no taxable compensation of his or her own for the year of the contribution. This is usually described as making a contribution to a spousal IRA.
A spousal IRA is not a special type of IRA. It is simply describing the fact that you are making a contribution to your spouse’s traditional or Roth IRA.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
*Please consult your tax-advisor for tax related issues.
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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC.). Insurance products are offered through LPL or its licensed affiliates. South State Bank and South State Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using South State Investment Services and may also be employees of South State Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, South State Bank or South State Investment Services. Securities and insurance offered through LPL or its affiliates are:
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Not Bank Deposits or Obligations
May Lose Value
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