April 13, 2018
The deadline is April 17, 2018. Deductible contributions will lower your 2017 tax bill, but even nondeductible ones can be beneficial because of tax-deferred growth (tax-free in Roth accounts). The 2017 contribution limit is $5,500 (plus $1,000 for those age 50 or older on Dec. 31, 2017). But your traditional IRA deduction or Roth IRA contribution may be further limited based on your income. Remember, once the deadline has passed, the savings opportunity is lost forever. Contact us to learn more.
Most of us who are still working have a healthy interest in planning for retirement! If the thought of not being financially ready for retirement brings you feelings of anxiety, you are not alone. Our firm’s financial professionals can help keep your retirement plans on track. In addition, these tips will help you proactively prepare.
For some people, Roth IRAs can offer income and estate tax benefits that are preferable to those offered by traditional IRAs. However, it’s important to take note of just what the distinctive features of a Roth IRA are before making the choice.
It's a sad fact . . .
The Tax Cuts and Job Act took a big bite out of a bunch of valuable business-meal and entertainment deductions...