If you forgot or didn’t have the resources to contribute the maximum amount to your IRA or Roth IRA plan in 2024, there’s still time! Eligible participants have until April 15, 2025, to contribute as much as $7,000 to these retirement accounts ($8,000 if you’re age 50 or older) for the 2024 tax year. Making contributions can lower your 2024 tax bill. Just remember to correctly designate the year for which you’re contributing. And, of course, if you’ve already contributed the 2024 maximum, you can make contributions for the 2025 tax year.
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