Posted by Nancy Hecht, CFP®, AIF®
While many taxpayers have payroll deduction retirement plans, it does not necessarily prevent you from making a deductible IRA contribution. If you are married filing a joint return and your adjusted gross income is between $98,000 – $118,000, you can make a partial or completely deductible IRA contribution for 2016. For single tax filers, their phase-out bracket is $61,000 -$71,000. If you are self-employed, the limits are even broader if you open a SEP IRA. For 2016, you can contribute 25% of your adjusted gross income up to $53,000.
You have until April 18, 2017 to fund a Traditional IRA, and up until the date you file, including extensions, which end October 18,2017, to fund your SEP IRA.
Put the funds in your pocket vs. that of the IRS for 2016.
Click here for more information on Nancy. To set up a free consultation with Nancy, either call 407-869-9800 or complete this form.
The Social Security Administration (SSA) is transitioning to a new login platform to enhance security and…
It seems like every news cycle includes an article about how the Social Security trust…
Investing based on the outcome of an upcoming presidential election is a bit like deciding…
We are delighted to announce the latest addition to our team of 15 CFP® professionals…
If you or someone you know made a qualified charitable distribution (QCD) from your IRA…
Recent developments in the world of cryptocurrency have brought Bitcoin exchange-traded funds (ETFs) into the…
This website uses cookies.