Saturday, July 24, 2004
Time's running out on the deadline for taking advantage of this fabulous tax credit!
In a nutshell, the government is offering a substantial match to low-income individuals who contribute to a retirement plan. Depending on your adjusted gross income, you may be eligible for up to a 50% match on the first $2,000 you contribute.
Here's where being a reservist or Guardsman comes into play: If you are in the reserves or Guard, and you were mobilized early last year, and sent to a combat zone, then in most cases everything you made in the combat zone does not count towards your AGI.
That means chances are great that even though you were making active duty wages last year, you'll still qualify for the low-income credit.
It's up to $1,000 in free money, people. Take the opportunity!
If you haven't contributed to a Roth IRA for 2003 yet, do it now! You only have until April 15th. After that you lose the opportunity forever.
Splash, out
Jason
In a nutshell, the government is offering a substantial match to low-income individuals who contribute to a retirement plan. Depending on your adjusted gross income, you may be eligible for up to a 50% match on the first $2,000 you contribute.
Here's where being a reservist or Guardsman comes into play: If you are in the reserves or Guard, and you were mobilized early last year, and sent to a combat zone, then in most cases everything you made in the combat zone does not count towards your AGI.
That means chances are great that even though you were making active duty wages last year, you'll still qualify for the low-income credit.
It's up to $1,000 in free money, people. Take the opportunity!
If you haven't contributed to a Roth IRA for 2003 yet, do it now! You only have until April 15th. After that you lose the opportunity forever.
Splash, out
Jason
Comments:
Post a Comment
