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Last Minute IRAs for 2004
Old 04-04-2005, 05:45 AM   #1
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Last Minute IRAs for 2004

As a reminder, the date your tax return is due, most often April 15th, is the last day to establish and fund traditional IRAs, Roth IRAs, Education IRAs and SEP-IRAs for 2004. For those of you lucky enough not to be working, there is no earned income requirement for Education/Coverdell IRAs.

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Re: Last Minute IRAs for 2004
Old 04-04-2005, 06:23 AM   #2
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Re: Last Minute IRAs for 2004

We have no kids or (EARNED) Income, is there any thing like an IRA so we can defer some taxes?

SWR
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Re: Last Minute IRAs for 2004
Old 04-04-2005, 07:06 AM   #3
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Re: Last Minute IRAs for 2004

SWR, not a lot of shelters without getting fancy. Hold assets more than a year so you have long term gain when you sell. If it makes sense given your tax bracket, receive tax exempt income (for example, municipal bond interest).

Anyone have any ideas?

Because we have passive income we do like investments that yield a depreciation deduction. This is one reason why we are still in real estate, but not the main reason. Though it is great for defering tax until we are in a lower bracket.
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