It’s not too late to make additional contributions for 2014! You are free to do so anytime up until the tax filing deadline of April 15, 2015.
Remember, you can contribute up to $5,500 annually (or up to $6,500 in catch-up contributions if you are 50 or older).
Are you making the most of your IRA? Don’t forget about the incredible tax advantages an IRA offers, such as:
- Unique IRA-specific tax incentives
- Compounded interest that continually grows tax deferred
- Contributions that may be tax deductible (Traditional IRA only)
As always, we recommend that you consult a tax expert regarding your specific situation.