Tax season is in full swing and the personal finance blogosphere is buzzing with information on the smartest ways to file. If you’ve been putting away for retirement, Money Crashers reminds you that you may be able to take advantage of the retirement savings contribution.
The article lays out income restrictions that differ depending on if you’re filing as single, head of household, or are married and filing jointly. It also talks about the fact that the credit is “non-refundable” and exactly what that means. In the end, it’s just more evidence that saving for retirement comes with a wide range of benefits.
Will you be taking retirement savings contribution credit this year? Are there any other ways that saving for retirement is helping you with your taxes?