Sunwest Trust Video Blog- Contributions

http://www.SunwestTrust.com -- (800) 642-7167, Informative video blog on Contributions to your IRA.

Hi, I'm Dustin White with Sunwest Trust, and today I'm going to talk a little bit about contribution limits and contribution deadlines.

April 15th is the contribution deadline for prior-year contributions to your Roth or Traditional IRA. For 2011, the contribution limits for the Roth and the Traditional have stayed the same, so they're still $5,000, with a $1,000 catch-up if you're over the age of 50, so if you're over the age of 50 you can actually contribute $6,000.

Like I said, you'll have until April 15th, to make 2010 contributions. If you haven't already made your contribution for 2010, you can go ahead and do so.

Now after January 1st, you can also make your 2011 contribution, so you could actually contribute for both 2010 and 2011 right now. If you have a SEP or a Simple IRA, you're going to have a little bit more time, depending on if your company's filing for extensions or not. If your company's filling for extensions, you'll have until April 15th plus extensions to make your prior-year contributions -- so you will have a little bit more time if you've got a SEP or a Simple IRA.

If you have any questions about any of this, be sure to talk to a CPA or a tax professional. And, as always, if you have any questions about your account, you can feel free to call us here at Sunwest Trust.

The number is 1-800-642-7167.

Category:

Education

Tags:

• contributions
• video blog
• ira
• Self Directed IRA
• Sunwest Trust
• SunwestTrust
• 800-642-7167
• sunwestira