There's still time to contribute to your 2012 IRA1 min read
If you did not contribute the 2012 maximum to your IRA by December 31, 2012, and you make any IRA contributions before April 15, 2013, tell your bank or other trustee that these 2013 contributions are for 2012 until you reach the $5,000 limit ($6,000 if you’re 50 or older). You can then deduct these 2013 amounts on your 2012 tax return for a quicker tax benefit.
The 2013 maximum IRA contribution increases from the 2012 limit of $5,000 to $5,500. If you’re 50 or older, your IRA contribution limit is $6,500.
With questions, please contact Simons Bitzer at (317) 782-3070 or consult your financial advisor.
By Simons Bitzer
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