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Month: April 2016

How Long Do You Need to Keep Your Tax Records?

Larry K. AndersonApril 26, 2016June 21, 2016

Why keep records? There are many reasons to keep records. In addition to tax purposes, you may need to keep records for insurance purposes or for getting a loan. Good records will help you: Identify sources of income. You may receive money or property from a variety of sources. Your records can identify the sources […]

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TaxesLeave a comment

IRA Contribution FAQ’s

Larry K. AndersonApril 21, 2016June 21, 2016

The contribution limit for 2016 is $5,500, or $6,500 if you’re age 50 or older. Your Roth IRA contributions may also be limited based on your filing status and income. See IRA Contribution Limits. Is my IRA contribution deductible on my tax return? If neither you nor your spouse is covered by a retirement plan […]

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Retirement Plans, TaxesLeave a comment

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