Last-minute Tax Tips

The April 15th deadline is quickly approaching but there are STILL a couple of last-minute things you can do for your 2012 returns!

** Contribute to an IRA before April 15th. For those of you under age 50, you are able to contribute up to $5,000 to a traditional or Roth IRA.  If you are over age 50 you can contribute up to $6,000.

** Make a deductible contribution to a health savings account (that is linked to a high-deductible health insurance plan). The 2012 contribution cap is $3,100 for individuals, $6,250 for families.

Davis & Hodgdon Associates has been assisting individuals and businesses in the Burlington Vermont Metro area for more than 20 years. The firm provides tax planning for individuals, corporations, trusts and estates that are seeking effective strategies to keep more of what they’ve earned. We also prepare all types of tax returns, including individuals, businesses, gifts and estates, trusts, nonprofits and foundations.For more information please call 802.878.1963 or email [email protected].

For more details on IRAs and HSAs view Managing Partner John Davis’ full interview with WCAX: http://www.wcax.com/story/21236255/tax-return-tips.