Latest Newsletter Edition

It’s Not Too Late to Make Retirement Account Contributions

If you haven’t already funded your retirement account for 2016, you may still do so. You have until April 17, 2017 for contributions to a traditional IRA, deductible or not, and to a Roth IRA.

Your total contributions to all your traditional and Roth IRAs can’t be more than $5,500 ($6,500, if you’re age 50 or older) or your taxable compensation for the year, if your compensation was less than this dollar limit. Making a deductible contribution will help you lower your tax bill this year.

This IRA contribution limit does not apply to rollover contributions and Qualified reservist payments.