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Latest Postings
- 1. February 2012: Florida State Unemployment Tax Rates 2012
- 21. January 2012: 2011 Health Insurance MUST be on W2 for >2% Sub S shareholder
- 17. January 2012: 2012 Mileage Rates
- 13. January 2012: Vacation Homes - sometimes you don't declare the rent!
- 11. January 2012: How Often Does Tax Law Change....
- 26. December 2011: 2012 Payroll Tax Cut Extended 1st Two months
- 27. November 2011: Ballgames - can you deduct?
- 15. November 2011: WHAT IS HIGH DEDUCTIBLE HEALTH PLAN
- 15. November 2011: HSA 2011 Contributions
- 20. October 2011: 2012 Social Security Increase
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ROTH IRA Maximum Contribuiton for 2009
$5,000 into a REGULAR IRA is the max for a single individual UNDER age 50 who does not participate in an employer sponsored retirement plan and still receive a tax deduction. Add $1,000 if over age 50.
Can contribute till April 15th, 2010 for 2009. Note: There is NO tax deduction for contributing to a ROTH IRA. The benefit of the ROTH is the earnings are not taxed during the growth phase of the investment (same as any retirement account) BUT the gains when taken out in retirement are NOT taxed.
The amount you or your spouse can contribute may be reduced depending on your Adjusted Gross Income. Contact us if you need more details at www.USATaxHelp.com