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2018 IRA Contribution Deadline

Tax PlanningIn case you missed it, there is still time to make an IRA contribution for 2018. The deadline for making such a contribution is Monday, April 15th

The IRA contribution limit for 2018 was $5,500 to any combination of IRAs and/or Roth IRAs. If you file a joint return, you and your spouse can each contribute to an IRA even if only one of you has taxable compensation. The amount of your combined contributions can’t be more than the taxable compensation reported on your joint return. Also, for those that have reached age 50 by year-end 2018, an additional $1,000 catch up contribution per person may be added to the normal limits. 

If you have any questions about your 2018 IRA contributions, please reach out to Natalia at 605-343-1400 ext, 110 or email help@kahlerfinancial.com as soon as possible. 

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