Tax Tip

Don’t overlook the big benefits of contributing to your pension or IRA. If you have the benefit from your employer, contributing is a way to reduce your taxable income. That contribution saves you taxes based upon your tax bracket and can even get you a retirement savers tax credit up to 50% of the first $2,000 in money you contributed. If you have no plan at work, don’t forget you still have until April 15th 2024 to make contributions to an IRA for yourself and your spouse if you are still working.