MARCH 2017
Greetings!

There’s still time to make 2016 IRA contributions: The deadline is April 18. Deductible IRA contributions will lower your 2016 tax bill. Even if you don’t qualify for a deductible IRA contribution, a nondeductible contribution may be something to consider.  For example, given your financial situation, you might want to consider a contribution to a Roth IRA, or if you don’t qualify for a Roth IRA, maybe you could consider a “back-door” Roth conversion.  

We also briefly discuss the criteria and benefits of the  American Opportunity Credit.

If you are need further explanation, give us a call, we are here to help. 
This Month's Featured Articles 
2016 IRA Contributions - It's Not Too Late!
Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017.  

If the contribution is deductible, it will lower your 2016 tax bill. But even if it isn’t, making a 2016 contribution is... read more
What Can - And Who Should - Take the American Opportunity Credit? 

If you have a child in college, you may be eligible to claim the American Opportunity credit on your 2016 income tax return. If, however, your income is too high, you won’t qualify for the credit but. .. read more

Sorting through Miscellaneous Tax Deductions

Most tax-deductible expenses fall into a specific category. For instance, you can usually claim mortgage interest and charitable contributions as itemized deductions on Schedule A of your Form 1040.  

But there's a large hodgepodge of other expenses... read more
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Gilbert CPA
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info@gilbertcpa.com
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