Which is Right for You

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When the IRA contributions expire The deadline to contribute to an IRA for the tax year is April , . Yes, you read that right—the tax year and the contribution deadline don't always line up perfectly. Hey, the IRS likes to keep us in the mood! So mark your calendars and set a reminder on your phone so you don't miss this opportunity to save. Why you should contribute to an IRA Now you may be wondering, "Why should I contribute to an IRA?" Well, let's break it down for you. First of all, contributing to your IRA allows you to save for retirement in a tax-deductible way. This means you can potentially lower your tax bill for the year while building a bar for the future. It's a win-win! How much you can contribute If you're under , the maximum IRA contribution for will be , . And if you're or older, you can contribute an additional , as a catch-up contribution, bringing your total to , . So whether you're a bright young professional or a seasoned expert, everyone has the opportunity to contribute and grow their retirement savings. Traditional IRA vs. Roth IRA: ? This is where things get interesting.  

When it comes to IRAs, you can choose between a traditional IRA and a Roth IRA. The main Email Marketing List difference? Taxes, of course! With a traditional IRA, your contributions can be tax-deductible, meaning you can save on your tax bill now. But keep in mind that you will pay taxes on withdrawals in retirement. A Roth IRA, on the other hand, offers tax-free withdrawals in retirement, but your contributions are made with after-tax dollars. Decisions, decisions! Final Thoughts: Don't delay, contribute! As the saying goes, "The early bird catches the worm," but in this case it's more like "The early bird catches the egg." So, don't wait until the last minute to make your IRA contribution. Take a few minutes to assess your financial situation, consult with a financial advisor if needed, and make a contribution plan by the April deadline.  



Your future self will thank you for taking the initiative and taking steps to ensure a comfortable retirement. Remember that life is a journey and retirement is just one stop along the way. So let's make the most of it to make our golden years truly golden. Happy saving and a financially secure future! Year-end checklist for accountants Tax time adjustment As the year draws to a close, it's time for accountants to get their tax timing right. Dust off your calculator and get ready to crunch some numbers like a pro. Here's a checklist to make sure you tick all the boxes before the year-end tax frenzy begins. Review and approval First of all, it is time to review and agree. Take a deep dive into your financial documents and make sure everything is in order.