irs

If you’re in a lower tax bracket and have been looking for a good reason to get off your butt and start saving for retirement, here it is… In short, you may be eligible for a tax credit that offsets as much as 50% of your traditional or Roth IRA, […]

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As a followup to my earlier posts on IRA contribution limits and the income limits for traditional IRA deductions… I thought I’d highlight the income limits for making Roth IRA contributions. As you’re likely aware, not everyone can contribute to a Roth IRA. Rather, depending on your modified adjusted gross […]

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One of the big reasons that many people contribute to a traditional IRA is for the tax deduction. But not all contributions qualify. How do you know if you’ll be able to deduct your IRA contributions? Simple. Just compare them to the applicable income limits. For 2014, these limits (like […]

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As was the case last year, this is mainly a note to myself. That being said, this might be of use to some of you, so I thought I’d publish it here. I’ve been busy updating my calendar for 2014 and, as part of that process, decided to update my […]

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Curious as to what next year holds in terms of federal income tax brackets? Well, look no further, because I’ve got the details below. But before I get to the brackets themselves, I wanted to take a moment to remind you exactly how tax brackets work… In our progressive tax […]

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As we approach the end of the year, it’s time to start looking ahead. That means it’s time to revisit your retirement plan contributions. According to the IRS, the 2014 contribution limits for 401(k), 403(b), and 457(b) plans will be unchanged in 2014. That means that the stated limit will […]

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As we chug through November, I want to continue looking ahead to 2014. So let’s talk a bit about IRA contribution limits. According to the IRS, the 2014 contribution limits for traditional and Roth IRAs will remain unchanged from 2013 levels. That means you can contribut a max of $5,500/year […]

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A reader named Chris just let me know that the U.S. Treasury has modified the “use-it-or-lose-it” rule relating to FSAs. In the past, when you had unspent funds left in your Flexible Spending Account at the end of the year, you lost them to your employer. Yes, your employer already […]

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