As the tax filing deadline approaches, we wanted to remind you that if you would like to fund your IRA for 2020, you need to do so prior to April 15. There are income limitations that apply to Roth IRA contributions. One can make a traditional IRA contribution regardless of income level, so long as there is sufficient earned income to fund the contribution. Whether that contribution is deductible depends on income levels.
If you’d like to make an IRA contribution for 2020 or if you’d like to discuss, please feel free to email or call us.