Truth 41. Retirement savings contribution credit
Sometimes a good thing just gets better. Such is the situation with the Retirement Savings Contributions Credit, also known as the Savers Credit. It has been around since 2002, but many people are still unaware of it and are missing out on a tremendous tax break.
We all know (at least after having read this book) how important it is to save for retirement in an IRA or a 401(k) or both. The federal government has passed numerous laws both to encourage people to invest for their future in IRAs and 401(k)s and to make the process as easy as possible. But the Retirement Savings Contributions Credit is more than just a simplification of the process, such as when employers were permitted ...
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