Low-income earners should see if they are eligible to apply for a saver's tax credit when they file their 2013 taxes. The credit is based on a person or couple's adjusted gross income and how much they set aside in an employer-based retirement plan or IRA.
Individuals who make less than $29,500 of adjusted gross income or couples who make $59,000 and file jointly are eligible to apply.
Individuals can take a credit up to $1,000 and married couples can take a credit of $2,000 if they made eligible contributions to either a 401(k) plan or an IRA.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.