Contribute to IRAS & HSAs Before Tax Day

Presented by 

Marc Aarons

I hope you’re doing well. With Tax Day on the horizon, I wanted to share a quick reminder to ensure you’re making the most of your tax-advantaged savings options for 2024. Here are two key contributions to consider:

Maximize Your IRA Contributions

You can still contribute to your 2024 individual retirement account (IRA) until April 15, 2025. Review the annual contribution limits to ensure you’re on track to take full advantage of this opportunity to save for retirement. Contributions may also be tax-deductible depending on your income and filing status.

Contribute to Your Health Savings Account (HSA)

 If you have a high-deductible health plan, you can contribute to your HSA for the 2024 tax year until April 15, 2025. HSAs offer triple tax benefits. In addition to contributions being tax-deductible, withdrawals for qualified medical expenses are tax-exempt and any growth is tax-free.

 These strategies can help you maximize tax savings while building a strong financial foundation for retirement and health care expenses.

 If you’d like to discuss your options or need assistance reviewing your contributions, don’t hesitate to reach out. I’m here to help ensure you’re making the most of these financial opportunities.

Please don’t hesitate to reach out with any questions or concerns.

Marc Aarons may be reached at 714-887-8000 or Email Marc

Money Managers inc. Website

This communication is from Money Managers, Inc.; a Securities and Exchange Commission registered investment advisor.  Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities, and past performance is not indicative of future results.  Investments involve risk and are not guaranteed.  Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed here.