Don’t Leave Money on the Table!

Did you know that you may be eligible to receive a Saver’s Credit on your 2014 tax return? If you made any voluntary contributions to a traditional or Roth IRA, 401(k), 403(b), governmental 457, SEP or SIMPLE Plan, then you may be eligible for UP TO $2,000 in Saver’s Credit! **see Chart below

Key Components to getting the Saver’s Credit:

  • Voluntary contributions must have been made for the 2014 tax year in one of the above mentioned accounts.
  • Eligibility is based on income; if your Adjusted Gross Income (AGI) is up to $30,000 (single) or $60,000 (married, filing jointly),
  • IRA Form 8880 must be completed and filed with your tax return
  • You must be at least 18 years old, NOT have been a full-time student in 2014, OR
  • Not have been claimed as a dependent on another person’s tax return

The best part? IT’S NOT TOO LATE!! You can still make a voluntary contribution for 2014 to a Traditional or Roth IRA! You have until you April 15th (or when you file your taxes, if before) to fund a Traditional or Roth IRA, so you can take full advantage of not only helping to secure your future, but also to save on your taxes by receiving the Saver’s Credit!

Call or email us today to see what options we have available for all of your Retirement Savings needs

AGI Credit on first $2,000 of Contributions Maximum Credit
$0-$18,000 50% $1,000
$18,001-$19,500 20% $400
$19,501-$30,000 10% 200
Married, Filing Jointly
AGI Credit on first $2,000 of Contributions Maximum Credit
$0-$36,000 50% $1,000 + $1,000
$18,001-$19,500 20% $400 + $400
$19,501-$30,000 10% $200 + $200

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