This individual retirement account deduction mistake may derail your tax break
If you’re expecting a deduction for pretax individual retirement account contributions, you need to know the IRS rules to qualify.
The tax break depends on your participation in workplace retirement plans and income.
1. Organize your tax documents
2. Update your name and address
3. Decide who will prepare and file your taxes
4. Don’t ignore your mail
5. Track down missing documents
6. Understand Your Filing Status
7. Max out retirement plan contributions
8. File early