First Republic Private Wealth Management includes First Republic Trust Company; First Republic Trust Company of Delaware LLC; First Republic Investment Management, Inc., an SEC-Registered Investment Advisor; and First Republic Securities Company, LLC, Member FINRA/ SIPC.
Contributions to a traditional IRA reduce your AGI (Adjusted Gross Income) and lower your taxes. Your contribution must be made by April 15 following the tax year to be deductable. Contributions to a Roth IRA do NOT reduce AGI and do not lower your current taxes.
Contributions don't affect other accounts. Contributions that you make to an employee's SEP IRA don't affect his or her ability to contribute to another IRA account. Employees who also work for another business where they have a separate retirement account can still have a SEP IRA with your company.igher limits. A SIMPLE IRA offers higher contribution limits than a traditional or Roth IRA. In 2013, employees can contribute up to $12,000 to their account, plus a $2,500 catch-up contribution for employees older than 50.