Which IRA is best for me?

  TRADITIONAL IRA ROTH IRA
Contribution Limits Under age 50 – $5,000   Over age 50 – $6,000 Under age 50 – $5,000    Over age 50 -$6,000 However, contribution max is phased out based on your Modified Adjusted  Gross Income (MAGI) & tax filing status. 
Contribution Deadline April 15 (The individual tax filing deadline, not including extensions) and you are under age 70 ½  April 15 (The individual tax filing deadline, not including extensions)
Tax Deductible Yes (in most instances) No 
Growth/Earnings Tax-deferred until withdrawal Tax-free growth 
Required Minimum Distribution (RMD) Yes No
Mandatory Withdrawal Age 70 ½ None 
Distributions Taxed as ordinary income at the time of withdrawals. Money is not taxed at time of withdrawal (If certain conditions are met.) 

Be sure to consult your tax professional to determine which IRA best suits your individual needs.