An IRA can be one of the most useful tools for building retirement savings, but a small contribution mistake can turn a smart money move into an unwanted tax headache. The IRS sets annual limits and eligibility rules, and missing those details can create extra paperwork, penalties, or tax complications.
The good news? Most IRA mistakes happen because the rules feel more complicated than they look. A little attention before moving money into an account can help avoid the kind of financial surprise that arrives with a tax bill instead of a retirement boost.
