When Can A ROTH IRA Contribution Get You $1,000?
Gwen Garrison Financial Advisor
Independent Financial Advisor Helping Women wisely manage finances to create their best life with the money they have.
Whether you prepare your own taxes with software or consult with a tax advisor, there is a Retirement Saver’s Tax Credit of up to $1,000 per person. See IRS Form 8880 for complete details on the tax credit.
This benefit is targeted towards lower-income workers, such as young adults on their own who are not a full-time student or someone else’s dependent. It is an ideal benefit to access when a parent may fund a Roth IRA contribution for a young adult. ALWAYS make sure you enter Roth IRA contributions into your tax software or tax prep worksheet even though they are not tax deductible. You never what other benefits may be triggered!
If you need help making the most of saving for your retirement, make an appointment today for your free visit. Call Gwen Garrison or Sibyl Slade or book an appointment online at www.lifeplanfinancialadvisors.com
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