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Tax Credit Consulting: Retirement Savers Contribution Riverdale GA

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.

Liberty Tax Service
(866) 871-1040
501 Highway 138 Sw
Riverdale, GA

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H&R Block
(404) 968-0032
4764 JONESBORO rd
FOREST PARK, GA

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Jackson Hewitt
(404) 254-6000
5330 Old National Highway
College Park, GA

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Jackson Hewitt
(404) 260-7388
2047 Mount Zion Road
Morrow, GA

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H&R Block Inside Lake City Commons Shopping Center
(678) 422-3002
5656 JONESBORO RD
LAKE CITY, GA

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MICAH BYRD Mobile Bookkeeping & Tax Service
(770) 573-4125
804 Commerce Blvd Suite A7
Riverdale, GA

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Rivers Income Tax Service
(770) 477-6602
10214 Fitzgerald Rd
Jonesboro, GA

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FDA Tax Services
(770) 994-9454
5373 Riverdale Rd
Atlanta, GA
 
H&R Block
(770) 960-7307
6550 MT ZION blvd STE 103
MORROW, GA

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H&R Block
(770) 477-7069
7050 Tara Blvd
Jonesboro, GA

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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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