Tax season is on the horizon, and it’s always good to look for more ways to save on your taxes. The Saver’s Credit, also known as the Retirement Savings Contributions Credit, is one way to help low- and moderate-income workers start putting money aside towards retirement. This credit helps reduce or offset the first $2,000 you contribute towards an IRA, 401(k), or other such qualified retirement program. If you fall within the required income thresholds you can take advantage of this credit, and while they may not be huge savings in these lean times every little bit counts.
Read the entire article here: The Special Tax Credit That Can Lower Your 2012 Taxes By Up to $2,000
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Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.