Navigating IRA Contribution Limits

Are you wondering if you can make a contribution to your IRA to help save on taxes? Not every one is eligible to deduct an IRA contribution on their return and the rules concerning IRA contribution limits can be confusing, so here’s some guidance.

First, the overall limit for a contribution to a traditional (deductible) IRA in 2013 and 2014 is $5,500 if you are under 50 years old, or $6,500 if you are 50 years or over.
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