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Tax Credit Consulting: Retirement Savers Contribution Fairmont WV

Americans doesn't do well in saving for retirement. Well, the government is offering the retirement savers contribution tax credit to change this for some of us. Keep on reading for details of this issue.

Edwin Landis
60 West Street Suite 404
Annapolis, MD
Company
Title: Financial Consultant
Company: Landis Financial Services
Type
Investment Advisor Rep: Yes
Education
Michigan State University/ BA
Service
401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,Stock Market Alternative,Medicaid,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Ind

Data Provided by:
H&R Block
(304) 366-3728
32 TYGART VALLEY MALL
WHITE HALL, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
103 N Pike St
Grafton, WV

Data Provided by:
Tax Tech
(304) 296-1040
990 Fairmont Rd Ste C
Morgantown, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
128 Emily Dr
Clarksburg, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
911 Country Club Rd
Fairmont, WV

Data Provided by:
H&R Block
(304) 265-2662
12 BLUE Ave
GRAFTON, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
827 Fairmont Rd
Morgantown, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
735 Chestnut Ridge Rd
Morgantown, WV

Data Provided by:
Mr. Gregory R. Metcalf (RFC®), RFP
(307) 723-5018
200 Ivy St
Weirton, WV
Company
Horizon Financial Group
Qualifications
Education: Ohio University, BBA FinanceCollege for Financial Planning's CFP Certification Professional Education Program
Years of Experience: 15
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection

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Tax Credit Consulting: Retirement Savers Contribution

Retirement Savers Contribution Tax Credit

It is a well-known fact that Americans are miserable failures when it comes to saving for retirement. Well, the government is offering the retirement savers contribution tax credit to change this for some of us.

Social security is going to be under siege as baby boomers hit retirements. Fortunately, many baby boomers have put away piles of cash in 401ks and IRAs. Regardless, most people fail to do all they can in this regard. In an attempt to motivate us taxpayers to save as much as we can for retirement, Uncle Sam is dangling tax credits before us like the proverbial carrot.

The tax credit in question is the Retirement Savings Contributions Credit. Qualify for it and you may be eligible to take a credit of $1,000 for singles and $2,000 if you're filing jointly. The credit is eligible for those that make contributions to 401ks and retirement vehicles. The amount of the credit is determined on a sliding scale based on how much you make and contribute.

You can claim the retirement savings tax credit:

1. Individual taxpayers with incomes of $25,000 or less.

2. Individual taxpayers that are head of households and make $37,500 or less.

3. Married couples filing jointly who make $50,000 or less cumulatively.

There are some very minor restrictions regarding who is eligible for the tax credit. First, you have to be older than 18. Second, you can't be a full time student. Finally, another dependent can't claim you as a depe...

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