Contribute to a Retirement Fund to Save on Taxes

Year in and year out, making a contribution to an individual retirement account (IRA) offers a substantial tax deduction that you can take up until the filing deadline. If you are under 50, you can contribute up to $6,000 to a traditional IRA for 2020, or up to $7,000 if you are 50 or older. The resulting deduction for a taxpayer in the 25% federal tax bracket can be as much as 30% of his or her total contribution, according to the Mass Mutual blog, and it’s deliverable immediately as tax savings. #LastMinuteTaxTips

CATEGORIES

FEATURED STORIES

Lend Mom A Hand — Help Her Declutter

Read Article

Celebrate Earth Day This Week and Every Week

Read Article

Managing a Move During the Pandemic

Read Article

Observing Vietnam Veterans Day Safely

Read Article

SCHEDULE A PICK UP BY STATE

Copyright © 2018 ClothingDonations.org. All rights reserved.

SCHEDULE A PICK UP BY STATE

PRESENTED BY Copyright © 2018 ClothingDonations.org. All rights reserved.
X
- Enter Your Location -
- or -