UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: W401K Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Re: Retirement Savers Credit Date: 1/8/2004 10:26 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Yes it was available in 2002. That was the first year for it.

The numbers in the 2nd and 3rd column are the income qualifications.

for instance if you are married and filing jointly, and your joint income is less than $50,000, you will qualify for a credit.

If you are Single and your income is $25,000 or less you qualify for a credit. How much of a credit depends on how much you earned. For instance, those that are single and make $24,000 will receive a 10% credit. Those making under $15,000 will get a 50% credit,
If anyone has kids and they worked over the summer, get them to contribute to an IRA,(it can be a traditional or a ROTH)
They should get the tax credit if they just had a summer job.

Bill
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Value Hounds

Considerable Headwinds for Profire Energy?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement