IRA | The TurboTax Blog

Can I Make Spousal IRA Contributions for Retirement?

March 11, 2020 March 24, 2020 / TurboTaxBlogTeam

You can contribute to an IRA if you earn income from a job or from running your own business, and under certain circumstances, you can even fund an IRA if you’re not working at all. Many couples agree that one...

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Self-Employed

End of Year Retirement Tips for Employees and the Self-Employed

December 22, 2019 March 24, 2020 / TurboTaxBlogTeam

Contributing to your retirement account is one of the best ways to reduce your taxable income and increase your tax refund. While some retirement accounts have year-end deadlines for contributions and required distributions, others give you extra time to make...

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Self-Employed

4 Ways to Save for Retirement When You Work in the Gig Economy

October 17, 2019 October 23, 2019 / Jim Wang

If you work in the gig economy and you want to save for retirement – and reduce your income taxes at the same time – you need to start saving for retirement. Not only will it enable you to direct...

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401K, IRA, Stocks

Using Your 401k to Reduce Taxable Income

October 5, 2019 March 9, 2020 / Jim Wang

As you file your taxes, you’re probably thinking about ways to reduce your taxable income. Did you know that there are a lot of strategies you can use with your retirement funds, like your IRA and 401(k), to reduce your...

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Income and Investments

Happy Father’s Day! The Best Savings Tips from Our Authors’ Dads

June 17, 2018 / TurboTaxLisa

Father’s Day is here! From life lessons to learning how to throw a baseball, we gain a lot from our fathers, especially when it comes to savings. To celebrate Father’s Day, we thought it would be fun to hear what...

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Tax Refunds

Four Ways to Make Your Tax Refund Deductible Next Tax Season

May 7, 2018 January 4, 2019 / Ginita Wall, CPA, CFP®

Hooray! You are getting a tax refund. As you fantasize about all the ways you can spend it, don’t forget ways that you can use this year’s tax refund to get a bigger refund next year. Here’s how: Make a...

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401K, IRA, Stocks

Five Tips to Help You Figure Out How Much to Save for Retirement

October 16, 2017 / Elle Martinez

As we get more comfortable with our finances we’re looking for ways to improve our system and that includes our retirement plans. Here are five tips to help you estimate how much you need to save for retirement.

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Tax Planning

Real Talk Series: I’m Planning on Retiring This Year. What Should I do to Prepare for Next Tax Season?

May 19, 2017 July 24, 2019 / TurboTaxLisa

Congratulations on your decision to retire this year! I’m sure you have worked hard and deserve to enjoy this new chapter in your life. I’m so glad you asked this question, because whether you decide to travel, relax, or consult on...

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Tax Planning

Do You Know These 6 Tax Facts?

April 10, 2017 July 22, 2019 / TurboTaxBlogTeam

Tax Day is almost here! Did you file your taxes early or are you waiting for that last weekend? For those procrastinators out there: get started now and you’ll be done before you know it. We ask you simple questions and...

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Income and Investments

Small Business Retirement Plans for the End of Year

November 26, 2016 / Winnie Sun

Small business owners often manage their own human resources, which includes figuring out what to do about retirement savings plans. Faced with an array of complex, and sometimes expensive, savings plan choices, it’s tempting to not offer a program. But,...

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