Tag Archive: AGI

Oct 09 2013

Lower income? Don’t pass up the saver’s credit

In 2002, Congress passed legislation to create an income tax credit designed to encourage lower- and middle-income people to save money for retirement. The saver’s credit, worth up to $1,000 a year for individuals ($2,000 for couples filing jointly), rewards people for contributing to an IRA or 401(k) plan. benefit from the saver’s credit are …

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Permanent link to this article: http://www.easttexasreview.com/lower-income-dont-pass-up-the-savers-credit/

Jan 05 2012

Boosting your retirement plan contributions

By Jason Alderman For the first time since 2009, the IRS has increased the amount people can contribute to their 401(k) and other defined contribution plans. Effective January 1, 2012, the maximum annual contribution grows by $500 to $17,000, thanks to an increase in the Department of Labor’s Consumer Price Index for Urban Consumers (CPI-U), …

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Permanent link to this article: http://www.easttexasreview.com/boosting-your-retirement-plan-contributions/