- If you or your spouse are not active participants in an employer sponsored pension or profit sharing plan, your IRA contributions are 100% tax deductible.
- If you or your spouse are active participants, your IRA contributions may still be fully or partially tax deductible depending on your income level.
*Please consult your tax advisor for retirement tax benefits.
Contribution Limits for the 2017 & 2018 Tax Year
*The deadline for 2017 contributions is April 16, 2018.
- $5,500 for individuals, $11,000 for married couples
- Catch up contributions for IRA owners 50 years or older is an additional $1,000