IRA Excess Contribution | How To Avoid Taxes & Penalties

Worried about over-contributing to your IRA? I got you covered! Today we are going to go over what an excess contribution is, how to fix an over contribution in order to avoid taxes and penalties, and give you some tips & tricks on how to avoid this error in the future. 

**please note this is not investment advice, just my opinion & should be used for entertainment purposes only**

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ARTICLES MENTIONED:
Roth IRA Income Limits: https://www.schwab.com/ira/roth-ira/contribution-limits#:~:text=Roth%20IRA%20contributions%20are%20made%20on%20an%20after%2Dtax%20basis.&text=The%20maximum%20total%20annual%20contribution,re%20age%2050%20or%20older.
Penalty on Excess Contributions: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits 

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