Tax & Accounting Services in Desoto Texas

Few tips to lower your IRS bill.

Here are a few tips that will help you lower your IRS bill and avoid tax-related hassles down the line. Max out your retirement plan contributions. … Report all of your income. … Keep accurate records. … Hold investments for at least a year and a day. … When in doubt, ask a professional, contact TAX2Go today!

How much can you contribute to an IRA in 2018?

For 2015, 2016, 2017 and 2018, your total contributions to all of your traditional and Roth IRAs cannot be more than: $5,500 ($6,500 if you’re age 50 or older), or. your taxable compensation for the year, if your compensation was less than this dollar limit.

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