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Last Day To Fund Your IRA for 2011 Tax Year

posted in Money | Apr 15, 2012 | 237 views

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

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