Contribute From IRAs

Filed in Tax, Savings by on January 22, 2011

Are you at least 70 ½? Then you should contribute from IRAs. You can contribute up to $100,000 a year from IRAs. Contribute from IRAs in January 2011(only) and it counts for 2010. If you contribute from IRAs you also reduce your mandatory distributions. You not only owe no income tax if you contribute from IRAs, but this makes your income smaller, deductions and taxable Social Security smaller, to cut your tax.

 

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