Posts Tagged Gross Income

  • IRA Contribution Amounts IRA Contribution Amounts

    By Richard J. Schillig, CLU, ChFC, LUTCF Independent Insurance and Financial Advisor The maximum amount you can contribute to a traditional IRA or Roth IRA in 2012 remains at $5,000 (or 100 percent of your earned income, if less), unchanged from 2011. The maximum catch-up contribution for those...

  • Exclude Income from Taxes Exclude Income from Taxes

    By Richard J. Schillig, CLU, ChFC, LUTCF Independent Insurance and Financial Advisor Income tax season is upon us again!! As we deal with 2011 income taxes and compile all that stuff needed to complete tax returns, we are also being inundated with lots of media coverage on the potential of vari...