taxreform - What You Need to Know!

What You Need to Know!

A blog about keeping you up-to-date with the latest Financial Planning and Wealth Management news.

Planning for Success: 2021 IRA Contribution ✓

Planning for Success: 2021 IRA Contribution ✓ Tax Day is swiftly approaching with this year’s deadline of April 18 th .  While this time of year can be daunting, we are here to make it a little bit easier.   There is still time to contribute to your Individual Retirement Account (IRA) for the 2021 tax year.  You have until April 18 th to contribute the maximum amount to either a traditional IRA or Roth IRA for it to be eligible as a 2021 tax year contribution.  It is important that your custodian appropriately marks the tax year of contribution.  For instance, if you have not contributed or reached the maximum contribution amount for 2021, you can identify your contribution for either the 2021 or 2022 tax year.  It would be wise to mark the contribution as 2021, so you will still be able to contribute for the 2022 tax year. ...
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