IRA contributions Archives - BeachFleischman CPAs

Retiring soon? Recent law changes may have an impact on your retirement savings

March 4, 2021 March 19, 2021 Tax Department Estates & Trusts, Tax Bites IRA, IRA contributions, retirement, RMDs, SECURE Act

Saving for retirement can help make your future brighter. Recent tax law changes might allow you to save more with your IRA or retirement plan.

Didn’t contribute to an IRA last year? There may still be time

March 1, 2021 March 30, 2021 Tax Department Tax Bites IRA, IRA contributions, retirement plan contributions, SEP

Saving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2020 tax return.

2021 individual taxes: Answers to your questions about limits

February 11, 2021 February 19, 2021 Tax Department Tax Bites 401(k) contribution, IRA contributions, social security, tax, tax deductions, tax planning

How much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other tax-related amounts for 2021.

A nonworking spouse can still have an IRA

June 3, 2020 November 6, 2020 Tax Department Tax Bites IRA, IRA contributions

If you’re married and you don’t work outside the home, you still may be able to contribute to an IRA. Here are the rules for spousal IRAs.

There’s still time to make a deductible IRA contribution for 2019

May 13, 2020 November 6, 2020 Tax Department COVID-19, Tax Bites COVID-19, IRA contributions, MAGI

Do you want to save for retirement on a tax-advantaged basis? It’s not too late to make 2019 IRA contributions (if you’re eligible) just because it’s 2020. And this year, the IRS extended the deadline three months due to COVID-19. Here are the rules and who can make contributions.

Do you have tax questions related to COVID-19? Here are some answers

May 5, 2020 November 23, 2020 Tax Department COVID-19, Tax Bites deduct losses, estimated tax payments, IRA contributions, remote work expenses, tax, unemployment benefits

If you’re like most Americans, the coronavirus (COVID-19) pandemic has led to many questions. Health issues are of utmost concern but you may also have many financial questions. Here are some answers.

4 new law changes that may affect your retirement plan

January 8, 2020 February 3, 2021 Tax Department Tax Bites IRA, IRA contributions, retirement plans, SECURE Act

A new law might provide you with tax-saving opportunities related to your IRA or retirement plan.

Congress gives a holiday gift in the form of favorable tax provisions

December 30, 2019 Tax Department Tax Bites 401k, college costs, FCAA, IRA contributions, medical expense deduction, tax provisions, tax savings

Just in time for the holidays: A new law has been passed that may provide tax savings to you.

You still have time to make 2017 IRA contributions

April 4, 2018 April 3, 2018 Tax Department Tax Bites IRA contributions, maximum tax savings

Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible contributions will lower your 2017 tax bill, but even nondeductible contributions can be beneficial. Don’t lose the opportunity The 2017 limit for total contributions to[ … ]

2016 IRA Contributions – It’s not too late!

March 16, 2017 March 15, 2017 Tax Department Tax Bites annual contributions, IRA contributions, qualified distributions, retirement plans, Roth IRA

Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. But even if it isn’t, making a 2016 contribution is likely a good idea. Benefits beyond a deduction Tax-advantaged retirement plans like IRAs[ … ]

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