This is just a friendly reminder that if you haven’t made your IRA contribution for 2011 yet, the last day that you can do it is: April 17, 2012. That is Tuesday. The reason for the change is that April 15 (the usual deadline) falls on a Sunday, and April 16 is a Federal holiday in Washington DC. As such, you get an extra two days to make your IRA contribution. Don’t miss out!
2011 IRA Contribution Limits
As a reminder, the 2012 IRA contribution limits are:$5,000 if under 50$6,000 if over 50
2011 IRA Tax DeductionLimits
In order to get the tax deductions on your regular IRA contributions, you must meet the following guidelines:If neither you nor your spouse are in an employer sponsored plan, your contributions are fully deductible.If you’re in an employer sponsored plan:Single: $56,000 – $66,000Married Filing Jointly: $90,000 – $110,000Married Filing Separately: $0 – $10,000
2011 Roth IRA Income Limits
Also, if you want to...read more