Knowing how to plan your retirement savings and meeting deadlines could help you when it comes time to file your taxes.
Here are some tips to get you on track by the end of the year:
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Make 401(k) and IRA Contributions: You can claim a 401(k) deduction on up to $18,000, due by the end of the calendar year and you have until the tax filing deadline for IRA contributions.
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Catch-up Contributions: People age 50 and older can contribute up to $24,000 to 401(k).
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Saver’s Credit: You may qualify for a tax credit if you make less than $30,750 individually or $61,500 as a couple and you’ve saved in your 401(k) or IRA in 2016.
More tips in the US News article here: http://money.usnews.com/money/retirement/401ks/articles/2016-11-14/6-end-of-year-retirement-planning-tips-that-will-save-you-money
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