Tax Musings of a Burbank CPA: Still Time to Make Your IRA Contribution for the 2014 Tax Year

Well we are getting close to the tax filing deadline (sixteen days from today!)  Just remember that one thing you may qualify for to reduce your 2014 income tax is make a traditional IRA contribution up until April 15, 2015 (one of the few after-the-fact tax saving ideas allowed.)  See more information at this tip from the IRS below:

http://content.govdelivery.com/accounts/USIRS/bulletins/fbb96b?reqfrom=share

If you qualify you can contribute $5,500 if you are single ($6,500 if you are over 50.)  If you are married you may be able to double this amount.  A great way to save for retirement and use tax savings to help pay for it.

Tax Help and PlanningDollar holding Dollar Bill 2012  For financial,  accounting and tax musings,

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