The IRS Deductions Blog

Posts Tagged ‘tax deductible contributions to ira’

Items on Amazon Right Now for Tax Deductible Contribution:

Contribute Today to The Center’s Youth Programs!

Question: 401(k) and Rollover as a deduction? Health?

I recently made contributions to a 401(k) plan with a former company and they were before tax. I rolled that over to a Fidelity IRA, is it tax deductible?

Also, are premiums contributed to a health plan before tax, tax deductible? How about contributions for a domestic partner after tax? Thanks everyone!

Answer: Federal taxes do not recognize domestic partners for tax purposes. Some states recognize registered domestic partners. Nothing you do on their behalf counts unless they qualify as a dependent. Health premiums can be deductible if you qualify to itemize.

Items on Amazon Right Now for Tax Deductible Contributions To Ira:

SCORE: Need an affordable health care option? Consider an HSA

A health plan option first introduced in 2004 offers some measure of hope. Health Savings Accounts, or HSAs, work in IRA–like fashion to cover out–of–pocket medical costs with tax–sheltered money.

Finance & Investment Tips : What Are the Tax Advantages of an IRA?

Question: Can I receive Tax Deductions for contributing to a charity if I am claimed as a dependent?

My parents are claiming me as a dependent on their taxes. I made a monthly tax deductible cash contribution to a charity. I was wondering if I could itemize the deductions, or if my parents could since they claim me.

Answer: No, only one can take that deduction…………Jr..

Items on Amazon Right Now for Tax Deductible Contributions:

Vermont landscape auction links city and country

The first landscape auction in the United States will give people who value Vermont’s working landscape a chance to make a direct financial contribution to the farmers and foresters who keep the state green.

Tax Deduction Tips : Tax Deductions for Cash Contributions

Question: How much can we contribute, if any, to a deductible IRA?

Can we contribute to a deductible IRA and if so how much? So far we max out our contributions to Roth IRA’s every year. Also, my wife has about $8000 per year put into a 401k plan by her employer.

Answer: Here’s your chart for IRA contributions:

http://beginnersinvest.about.com/cs/iras/a/iracontribution.htm

You can have Roth AND traditional, but the TOTAL contribution is limited by law.

Items on Amazon Right Now for Deductible Contributions To Ira:

FINANCIAL CORNER – Time to Make New Year’s Financial Resolutions

Like many people, you may make some New Year’s resolutions. Perhaps you’ve promised yourself that you’ll visit the gym more often or learn a new language or reconnect with a long-lost friend. All of these are worthy goals, of course, and if you achieve them you may add new dimensions to your life.

Retirement Plans & Investments : Deductible Roth IRA Contributions