There’s Still Time to Lower Your 2018 Taxes
January 15, 2019 |
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Now that the ball has dropped, the confetti has been swept and 2019 has arrived, you might feel like you missed the bus with respect to lowering your 2018 taxes. Don’t fret. Take this word of advice from the financial experts at Dime: there’s always time to do something to reduce your taxes. So, if you’re worried you might have to owe the government in 2018, or if you just want to make sure you get the best return possible, we recommend you check out this remaining option for lowering your 2018 taxes.
Contribute to (or open) an IRA
Opening an IRA is still a great option, since you can take advantage of it all the way up to tax filing day, April 15, 2019. If you open a traditional IRA and you qualify to take the full IRA contribution on your taxes, then you’ll save a significant amount on your taxes. If you’re already covered by a work retirement plan, your contribution might be limited based on your AGI (adjusted gross income), but it could still make a difference.
Smart choices for your retirement from Dime Community Bank
Dime Community Bank gives you one great rate and two great terms for opening up a traditional IRA. The choice is yours. Open either a 17-month IRA CD or 30-month IRA CD with a 2.75% APY*. To open an account, visit your nearest branch.
So what are you waiting for? While you still have some time left to take advantage of these tax-lowering steps, you need to act now!
*A $500 minimum balance is required to open and to earn the Annual Percentage Yield (APY) on this special account offering (maximum of $250,000). APY is effective 1/02/2019. New money only. Funds to open this account cannot be transferred from any existing Dime account. Premature withdrawal is subject to penalty and fees may reduce earnings. In addition to any bank penalty, certain IRS penalties may also apply. Consult your tax advisor. Additional deposits have the same maturity date as the initial deposit and become part of the principal. Additional deposits are also subject to IRS contribution limits. Dime Community Bank reserves the right to cancel or modify this offer at any time without notice and to limit the number of accounts opened. Deposits insured to the maximum amount allowed by law. Deadline for 2018 IRA contributions is April 15, 2019.