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IRA contributions after age 70½:

You can’t make regular contributions to a traditional IRA in the year you reach 70½ and older. However, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

Spousal IRAs

If you file a joint return, you may be able to contribute to an IRA even if you did not have taxable compensation as long as your spouse did. The amount of your combined contributions can’t be more than the taxable compensation reported on your joint return. See the formula in IRS Publication 590-A.


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Roth IRAs and traditional IRAs:  


 If contributions are made to both Roth IRAs and traditional IRAs established for your benefit, your contribution limit for Roth IRAs generally is the same as your limit would be if contributions were made only to Roth IRAs, but then reduced by all contributions for the year to all IRAs other than Roth IRAs. Employer contributions under a SEP or SIMPLE IRA plan do not affect this limit.  This means that your contribution limit is the lesser of:

$5,500 ($6,500 if you are age 50 or older) minus all contributions (other than employer contributions under a SEP or SIMPLE IRA plan) for the year to all IRAs other than Roth IRAs.

Tips for Choosing a Tax Return Preparer


​Do you have errors on your current or past years tax return? We can handle that task. Did you request an extension of time to file your current tax return? We can file your current tax return.Having problems with the federal and or State, do you owe either or both? We can adjust your W-4.Are you Self-employed and having issues with your quarterly taxes? Consider it done, we can finalize your social security and business tax for each quarter.

​​Federal Tax Credits for Consumer Energy Efficiency


Frequently Asked Questions about Vehicle Tax Incentives

What's the difference between a deduction and a credit?

A tax deduction reduces the amount of income for which you are taxed. For example, if your taxable income were $50,000 a $2,000 deduction would reduce it to $48,000. So, you would pay taxes on an income of $48,000 instead of $50,000. This means your actual savings would be a fraction of the $2,000 deduction.

A tax credit reduces the total amount of income tax you owe. So, if you owed $10,000 in federal income tax a $2,000 credit would reduce the amount you owed to $8,000. With a credit, your actual savings would be $2,000.

Where can I find information on State incentives?

The U.S. Department of Energy's (DOE's) Alternative Fuels and Advanced Vehicles Data Center (AFDC) maintains a list of State & Federal Incentives & Laws for HEVs and alternative fuel vehicles.

Can I claim the credit for a used vehicle?

No. The credit applies to new vehicles only.

Can I claim the credit for a leased vehicle?

If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit.