IRA Contributions – Hurry the Clock is Ticking!
If you’re like many Americans you wait until the last minute to do many things. Well, in 2016, you get three extra days to file your federal tax return, which means 3 extra days to make those last minute IRA contributions for the previous year!
If you have yet to contribute to your self-directed IRA, consider doing so before the tax deadline in order to maximize your tax benefits. Remember contributions to tax-deferred plans such as a Traditional or SEP are tax write offs for you and contributing to a Roth allows you to save for retirement in a tax-free environment where you can take tax-free distributions at age 59 ½ as long as the account owner has had a Roth established for at least 5 years.
One strategy to make the most of your retirement savings is to start making these contributions early in the year, but if you haven’t done so don’t worry, the tax deadline this year is April 18, 2016!
To make a contribution to your self-directed IRA use our
Contribution Deposit Slip