Now that another tax season has come to a close, we should start to plan for next year. Budgeting for the maximum contributions you can make to your IRA or 401 (k) is something everyone needs to do to ensure a secure financial.

The ABC’s of growing your money tax deferred or tax free depending is simple.

1. Max the maximum contributions to your IRA or 401 (k)

2. Know when it makes sense to convert to a Roth. Plan this conversion in advance to achieve your best tax strategy.

3. If you can save more and are self employed, consider an Individual (k) and an IRA. You will save the most with this strategy other than a defined benefit plan.

For more information on which IRA is best for you or how you can have both an Individual (k) plan and an IRA, visit www.theentrustgroup.com and contact a local office for assistance.

This entry was posted on Wednesday, April 18th, 2007 at 7:12 am and is filed under Self-Directed IRA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.