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IRA
Contribution limits:
$4000 2005
through 2007
$5000 2008
and thereafter
Traditional
- May be fully deductible.
Roth - Not deductible for income tax purposes.
Withdrawals are tax free upon retirement age 59½.
Catch-up contributions
for individuals age 50 and over:
$ 500 2005
$1000 2006 and thereafter
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Mortgage Savings
Want to knock nearly 4 years off your mortgage payments and save over $53,000 in interest?
Assuming a $300,000 Thirty Year fixed rate mortgage at 6% interest:
If you add just $100 per month to your payment you would save over $53,000 in interest
over the life of the mortgage!
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The maximum tax rate on long term capital gains is now only 15%. This rate applies
to the sale of assets held more than 12 months.
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Don't Procrastinate. Always see your accountant
as early as possible!
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