Brian’s Tax Musings

Did you know there is a federal tax credit for making a retirement contributiom?  The amount depends on several factors.  Maximum adjusted gross income is $27,750 for single, head of household is $41,625 and married joint is $55,500.  This link gives more details:

http://www.irs.gov/newsroom/article/0,,id=107686,00.html

While I usually like a Roth IRA more than a traditional IRA because I think taxes will go up in the future, If you make a traditional IRA ot 401K contribution, you not only get the tax deduction (plus the company match in the 401K) but a tax credit too.  It really does pay to save for retirement.

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