January 12, 2018

Tax credit for low- to moderate-income earners investing for retirement


Saver's Credit income limits

"The Saver's Credit (more formally known as the Retirement Savings Contributions Credit) is a tax credit that you may be able to claim for making retirement savings contributions. In order to qualify for this tax credit, you need to be below certain income limits for the year. Those income limits have now gone up slightly for 2018 to $63,000 for married-filing-jointly taxpayers, $47,250 for heads of household, and $31,500 for single and married-filing-separately taxpayers."
Saver's Credit could be worth up to $1,000. Get the details at: The Saver's Credit: https://www.fool.com/retirement/2017/10/22/the-2018-savers-tax-credit-free-money-to-save-for.aspx 

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