Re-print from Farmers Insurance
Tips to save April 17th is approachingThis year April 15th is on Sunday so the Internal Revenue Service extended the 2011 tax filing deadline to April 17th.1 That’s two extra days but many of us are still not prepared or even preparing. Don’t panic; there’s still last-minute strategies that may help to positively impact your 2011 tax return. Here are some tips you may wish to consider:
- Contribute to a traditional IRA — If you are eligible to make tax-deductible IRA contributions — eligibility depends on your income and whether or not you participate in a pension, 401(k) or similar qualified plan — it’s not too late to make your 2011 contribution. Just contribute before April 17th and specify that you are making a 2011 contribution. Consider making a contribution even if it’s not tax-deductible.