Looking to save for retirement and maybe even save on you 2021 taxes?
While you cannot contribute more to your employer sponsored retirement account after year end, you may be able to contribute to an Individual Retirement Account. The deadline to contribute to an IRA for 2021 is April 18, 2022. Depending on your adjusted gross income, you may be able to take a deduction for a portion of your contribution, even if you are offered a retirement plan at your employer. If only your spouse is covered by a retirement plan at work, the income limits are more generous.
While you cannot contribute more to your employer sponsored retirement account after year end, you may be able to contribute to an Individual Retirement Account. The deadline to contribute to an IRA for 2021 is April 18, 2022. Depending on your adjusted gross income, you may be able to take a deduction for a portion of your contribution, even if you are offered a retirement plan at your employer. If only your spouse is covered by a retirement plan at work, the income limits are more generous.