Tips for Last-Minute IRA Contributions. Money Not Math 127
Considering making a last-minute 2022 IRA contribution? Here are some tips and key dates you should know.
When is the deadline?
Should you do a traditional or Roth contribution?
What is the maximum you can contribute?
Do you qualify to contribute to a Roth IRA or receive deductions from an IRA?
Are you able to use a backdoor Roth IRA? (non-deductible IRA contribution and then convert it to a Roth)
New IRA contributions limits in 2023: $6,500 if you’re under age 50 and $7,500 if you are age 50 or over.
#MoneyNotMath #5StoneFinancialGroup #Money #Retirement #IRA #IndividualRetirementAccount #roth #401k #taxes #TaxDeductions #BackdoorRoth #FinancialAdvisor
Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
