Monday, January 13, 2014

2013 it ain't over to we say it is over.

Tax Pro Today just sent me a list of year end tax moves still available in January. 


Many considered Dec. 31, 2013, the final date for year-end tax planning, but there are numerous planning actions that you can take in 2014 retroactive to 2013. Here’s a quick and easy guide to help you with your planning.

Retirement Plans
• Conventional and Roth IRA contributions for 2013 can be made until the April 15 return due date for the payment to be attributed to 2013.

• Contributions for Keogh, SIMPLE and 401(k) can be made up until the due date of the return including extensions. However, the Keogh, SIMPLE and 401(k) plans must have been established before the end of 2013 (Sept. 30 for SIMPLE plans), unlike the IRAs.
• SEP plans can be opened any time in 2014 until the tax return due date, including extensions, and/or payment delayed until then for the 2013 deduction to be allowed.


Read more by clicking on this link.  

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