IRA

An element of the new tax law that went into effect the beginning of 2018 is the increase of standard deductions for both single and joint filers.  Although this can be positive for taxpayers, this may also greatly reduce the itemized deductions that many previously have

There's still time to make a regular IRA contribution for 2017! You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2017 ($6,500 if you were age 50 by December 31, 2017).

Many people saving for retirement end up with a variety of savings or investment accounts:  regular personal (non-retirement) accounts; employer pre-tax retirement accounts [such as 401(k)s]; employer post-tax retirement accounts [such as a Roth 401(k)]; traditional Individu

If you are age 70 ½ or older you are probably familiar with the requirement that you must begin withdrawing money from your retirement plans.  The “required minimum distribution, or “RMD” is determined each year based on your current age and th

There's still time to make a regular IRA contribution for 2016! You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2016 ($6,500 if you were age 50 by December 31, 2016).

IRA contribution limits

The maximum amount you can contribute to a traditional IRA or Roth IRA in 2017 is $5,500 (or 100% of your earned income, if less), unchanged from 2016. The maximum catch-up contribution for those age 50 or older remains at $1,000.