TCCU News You Can Use






Cindy Foster
TCCU Certified IRA Specialist

This year's tax filing deadline, which usually falls on the 15th of April, will fall on April 17th this year. Many people are not aware that this is also the deadline for making contributions to your IRA that can be credited to your 2005 contributions. How does this affect you? Well, if you have a Roth IRA, it probably doesn't - at least in the short term. But if you currently have a Traditional IRA, and you haven't yet reached the maximum contribution limit for 2005, a last minute contribution to your IRA may mean more money back in your tax refund, if you are due one!

Here's another IRA tip that few people may be aware of - Not only can you contribute to your IRA and have those contributions count towards your 2005 total, but you can also open an IRA by April 17th and have those funds count toward your 2005 total as well!

Of course, not everyone qualifies for an IRA or the IRA tax deduction. You should consult with your tax advisor or attorney before making any decisions affecting your taxes. I would be glad to visit with you and discuss your options and the benefits of starting or contributing to a TCCU IRA. Give me a call at (940) 851-4084, or email me at cindy@TexomaCU.com.