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Biden polls better than Clinton against top GOP
Nassim Taleb’s ‘Black Swan’ fund made $1 bln
Staples, Office Depot to delay close of merger
PBF Energy chemical leak in Del. refinery
5 silly new words in the Oxford dictionary

Italy’s Eni discovers ‘supergiant’ gas field off Egypt
Italy’s Eni discovers ‘supergiant’ gas field off Egypt

Sunday is Warren Buffett's 85th birthday
Happy 85th birthday to the $67 billion man

‘War Room’ is a ‘resounding success’ at box office

10 money stories you might have missed but shouldn’t have
10 money stories you shouldn’t have missed

Now is the time to fix your investment portfolio
Now is the time to fix your investment portfolio
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By this measure, stocks have weathered the worst
By this measure, stocks have weathered the worst

Atlantic hurricanes lose sway over oil-and-gas market
Atlantic hurricanes lose sway over oil, gas markets

Blue-chips with fat dividends offer value


These are the best jobs for millennials
These are the best jobs for millennials


Have kiddie birthday parties gone too far?

Parents: You’re putting your kids in danger
Parents: You’re putting your kids in danger

Cheeseburgers and happiness always on the menu for Warren Buffett — and Jimmy Buffett, too
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Harry Styles makes more waves for SeaWorld
Harry Styles makes more waves for SeaWorld

Apple, Amazon, Google on post-selloff shopping lists
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Lack of fear means this correction isn’t finished

Most imposing stock ‘wall of worry’ in 5 years
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Meet the author of a best-read Wall Street blog

New Orleans 10 years after Hurricane Katrina
New Orleans 10 years after Hurricane Katrina
Hurricane Katrina: Looking back and forward
Obama in New Orleans to mark 10 years


China wins the Battle of Mountain Pass
China just undermined the U.S. Defense Department

China may be in worse shape than most of us think
What should China do to fix its economy?
Analysts dismiss fears of a China hard landing
‘Loch Ness monster’ and China's mystery rally

Tesla Model S scores 103 on 100-point scale
Tesla's Model S scores 103 on 100-point scale
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$400,000 supercar goes up in flames

How Aldi stacks up vs. Trader Joe's
How Aldi stacks up against Trader Joe’s


/conga/frontpage.html 353643

Markets »

131.79MDow Volume:
Avg Vol: 112.32M
Unchanged
186
Decliners
2190
Advancers
4209
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,643 -12 0.07%
Nasdaq
/quotes/zigman/12633936/realtime 4,828 +16 0.32%
S&P 500
/quotes/zigman/3870025/realtime 1,989 +1 0.06%
GlobalDow
/quotes/zigman/629063/realtime 2,373 +13 0.54%
Gold
/quotes/zigman/662444/delayed 1,133 +11 0.95%
Oil
/quotes/zigman/2331095/delayed 45.33 +2.77 6.51%
FTSE 100
/quotes/zigman/3173262/delayed 6,248 +56 0.90%
DAX
/quotes/zigman/2380246/delayed 10,299 -17 0.17%
CAC 40
/quotes/zigman/3173214/delayed 4,675 +17 0.36%
FTSE MIB
/quotes/zigman/1482176/delayed 21,994 -208 0.93%
IBEX 35
/quotes/zigman/2759620/delayed 10,353 +63 0.61%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +1 0.28%
Asia Dow
/quotes/zigman/6959860/realtime 2,798 +45 1.64%
Nikkei 225
/quotes/zigman/5986735/delayed 19,136 +562 3.03%
Hang Seng
/quotes/zigman/2622475/delayed 21,612 -226 1.04%
Shanghai
/quotes/zigman/1859015/delayed 3,232 +149 4.82%
Sensex
/quotes/zigman/1652085/delayed 26,392 +161 0.61%
Singapore
/quotes/zigman/1709939/delayed 2,956 +11 0.36%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 -0.01 0.54%
Yen
/quotes/zigman/16008150/realtime/sampled 121.70 +0.67 0.55%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 0.00 0.07%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.72 +0.00 0.03%
DXY Index
/quotes/zigman/1652083/delayed 96.15 +0.38 0.40%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.50 +0.24 0.27%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.18 0.00 0.12%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.00 0.17%
Italy 10yr
/quotes/zigman/15866497/realtime 1.91 -0.02 0.80%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 +0.01 0.26%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.85 -0.02 0.96%
Japan 10yr
/quotes/zigman/15866525/realtime 0.38 -0.01 2.48%
Crude Oil
/quotes/zigman/2331095/delayed 45 +3 6.51%
Gold
/quotes/zigman/662444/delayed 1,133 +11 0.95%
Corn
/quotes/zigman/7599553/delayed 374 -1 0.20%
DJIA F
/quotes/zigman/38649152/delayed 16,632 -18 0.11%
S&P F
/quotes/zigman/30356461/delayed 1,986 -3 0.15%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.89%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 91.01 1.28 1.43%
AAPL /quotes/zigman/68270/composite 113.29 0.37 0.33%
GOOG /quotes/zigman/30194416/composite 630.38 -7.23 -1.13%
BAC /quotes/zigman/190927/composite 16.36 -0.08 -0.49%
C /quotes/zigman/5065548/composite 53.28 -0.16 -0.30%
F /quotes/zigman/264304/composite 13.74 0.18 1.33%
T /quotes/zigman/398198/composite 33.29 -0.15 -0.45%
BP /quotes/zigman/247026/composite 33.26 0.23 0.70%
GE /quotes/zigman/227468/composite 25.16 0.15 0.60%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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World News from MarketWatch

Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
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SmartMoney Blogs

The Tax Blog
The latest news, insights and tips about taxes

Still Time to Save on Taxes With IRA

It’s crunch time, but you may still be able to cut down your tax bill by making a last-minute deductible contribution to a Traditional Individual Retirement Account.

Getty Images

“You have until the [April 18] tax deadline to actually make the 2010 contribution,” says Maria Bruno, an analyst in Vanguard’s Investment Strategy Group. (You can file your return before a contribution is made but the contribution must generally be made by April 18).

Here’s how it works: Investors under the age of 50 can contribute up to $5,000 to a qualifying IRA account. That limit gets bumped up to $6,000 if you’re 50 or older. In order for the full IRA contribution to be tax-deductible, you must either not participate in a retirement plan with your employer. If you do participate in an employer plan, you must make less than $56,000 as a single filer or less than $90,000 as a married couple filing jointly to qualify for the full deduction. Married couples who make less than $110,000 and single filers who make less than $66,000 can qualify for partial deductions.

Just how much can you save? It depends on your tax bracket. Take someone in the 25% tax bracket who makes the maximum $5,000 contribution. He or she could get a tax deduction of about $1,250. “So you’re reducing your taxable income by that much,” says Bruno, and added that you may be able to double that deduction by making a contribution for your spouse.

Don’t qualify for the deduction? There are a few longer-term tax savings strategies within reach. You can still start contributing to a Traditional IRA and benefit from tax-exempt earnings growth.

Or you can consider putting the money into a Roth IRA. While your contributions are taxed, you do get the benefit of withdrawing tax-free income in retirement. You can contribute up to $5,000 directly to a Roth IRA, but that amount is phased out for married couples who earn between $169,000 and $179,000 and for single filers earning between $107,000 and $122,000.

Even if you make too much to contribute to a Roth IRA directly, you can use a maneuver called a back door Roth IRA contribution. This involves making a non-deductible contribution to a Traditional IRA and then immediately converting the funds to a Roth IRA. But you may have to pay taxes if you already have other IRA savings.

And if you’ve already filed your taxes or don’t want to rush your decision, “you can start funding the accounts for next year as well,” says Christine Benz, director of personal finance for Morningstar.

Readers, are you making an IRA contribution this year? What other last-minute strategies are you considering?

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (3 of 3)

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    • We earned too much money to contribute to our Roth IRA this year. However, next year we will, in part because a large contribution to a chariety. I love giving appreciated assets to those who need funds. Sure helps on the tax side. Wish you would write something about this.

About The Tax Blog

  • The Tax Blog brings together a team of award-winning tax journalists from the Dow Jones network and around the web to examine the tax issues, changes and legislation that affect families, investors and small business owners. Our contributors include Tax Report columnist Laura Saunders (WSJ), Tax Guy columnist Bill Bischoff and senior reporter Jilian Mincer (SmartMoney.com), retirement-focused reporter Anne Tergesen (WSJ), wealth management writer Arden Dale (Dow Jones Newswires), TaxWatch columnist Eva Rosenberg and personal finance reporter Andrea Coombes (MarketWatch), and reporter Alyssa Abkowitz (SmartMoney). They’ll provide the latest news and insight, mine the tax code for tips and loopholes, and answer your questions about tricky tax situations. Contact the The Tax Blog with ideas, suggestions or tax questions at thetaxblog@dowjones.com.

MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

Tokyo Markets Open in:

need to know
Biden polls better than Clinton against top GOP
Nassim Taleb’s ‘Black Swan’ fund made $1 bln
Staples, Office Depot to delay close of merger
PBF Energy chemical leak in Del. refinery
5 silly new words in the Oxford dictionary

Italy’s Eni discovers ‘supergiant’ gas field off Egypt
Italy’s Eni discovers ‘supergiant’ gas field off Egypt

Sunday is Warren Buffett's 85th birthday
Happy 85th birthday to the $67 billion man

‘War Room’ is a ‘resounding success’ at box office

10 money stories you might have missed but shouldn’t have
10 money stories you shouldn’t have missed

Now is the time to fix your investment portfolio
Now is the time to fix your investment portfolio
Both worry, be happy stocks aren’t a sure bet

By this measure, stocks have weathered the worst
By this measure, stocks have weathered the worst

Atlantic hurricanes lose sway over oil-and-gas market
Atlantic hurricanes lose sway over oil, gas markets

Blue-chips with fat dividends offer value


These are the best jobs for millennials
These are the best jobs for millennials


Have kiddie birthday parties gone too far?

Parents: You’re putting your kids in danger
Parents: You’re putting your kids in danger

Cheeseburgers and happiness always on the menu for Warren Buffett — and Jimmy Buffett, too
Farrell: Recipes for happiness, from Buffett and others

Harry Styles makes more waves for SeaWorld
Harry Styles makes more waves for SeaWorld

Apple, Amazon, Google on post-selloff shopping lists
Amazon, Google on post-selloff shopping lists
In this Amazon Prime, not all goods ship for free

Never use a market order when stocks are selling off
Schwab site hit by outages in busy trade stretch
Lack of fear means this correction isn’t finished

Most imposing stock ‘wall of worry’ in 5 years
Worried? With good advice, you won't be

Meet the author of one of Wall Street’s best-read blogs
Meet the author of a best-read Wall Street blog

New Orleans 10 years after Hurricane Katrina
New Orleans 10 years after Hurricane Katrina
Hurricane Katrina: Looking back and forward
Obama in New Orleans to mark 10 years


China wins the Battle of Mountain Pass
China just undermined the U.S. Defense Department

China may be in worse shape than most of us think
What should China do to fix its economy?
Analysts dismiss fears of a China hard landing
‘Loch Ness monster’ and China's mystery rally

Tesla Model S scores 103 on 100-point scale
Tesla's Model S scores 103 on 100-point scale
Elon Musk retweets slow-driving Tesla owner
Colbert should ask Elon Musk, Kalanick this
$400,000 supercar goes up in flames

How Aldi stacks up vs. Trader Joe's
How Aldi stacks up against Trader Joe’s


/conga/frontpage.html 353643

Markets »

131.79MDow Volume:
Avg Vol: 112.32M
Unchanged
186
Decliners
2190
Advancers
4209
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,643 -12 0.07%
Nasdaq
/quotes/zigman/12633936/realtime 4,828 +16 0.32%
S&P 500
/quotes/zigman/3870025/realtime 1,989 +1 0.06%
GlobalDow
/quotes/zigman/629063/realtime 2,373 +13 0.54%
Gold
/quotes/zigman/662444/delayed 1,133 +11 0.95%
Oil
/quotes/zigman/2331095/delayed 45.33 +2.77 6.51%
FTSE 100
/quotes/zigman/3173262/delayed 6,248 +56 0.90%
DAX
/quotes/zigman/2380246/delayed 10,299 -17 0.17%
CAC 40
/quotes/zigman/3173214/delayed 4,675 +17 0.36%
FTSE MIB
/quotes/zigman/1482176/delayed 21,994 -208 0.93%
IBEX 35
/quotes/zigman/2759620/delayed 10,353 +63 0.61%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +1 0.28%
Asia Dow
/quotes/zigman/6959860/realtime 2,798 +45 1.64%
Nikkei 225
/quotes/zigman/5986735/delayed 19,136 +562 3.03%
Hang Seng
/quotes/zigman/2622475/delayed 21,612 -226 1.04%
Shanghai
/quotes/zigman/1859015/delayed 3,232 +149 4.82%
Sensex
/quotes/zigman/1652085/delayed 26,392 +161 0.61%
Singapore
/quotes/zigman/1709939/delayed 2,956 +11 0.36%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 -0.01 0.54%
Yen
/quotes/zigman/16008150/realtime/sampled 121.70 +0.67 0.55%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 0.00 0.07%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.72 +0.00 0.03%
DXY Index
/quotes/zigman/1652083/delayed 96.15 +0.38 0.40%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.50 +0.24 0.27%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.18 0.00 0.12%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.00 0.17%
Italy 10yr
/quotes/zigman/15866497/realtime 1.91 -0.02 0.80%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 +0.01 0.26%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.85 -0.02 0.96%
Japan 10yr
/quotes/zigman/15866525/realtime 0.38 -0.01 2.48%
Crude Oil
/quotes/zigman/2331095/delayed 45 +3 6.51%
Gold
/quotes/zigman/662444/delayed 1,133 +11 0.95%
Corn
/quotes/zigman/7599553/delayed 374 -1 0.20%
DJIA F
/quotes/zigman/38649152/delayed 16,632 -18 0.11%
S&P F
/quotes/zigman/30356461/delayed 1,986 -3 0.15%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.89%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 91.01 1.28 1.43%
AAPL /quotes/zigman/68270/composite 113.29 0.37 0.33%
GOOG /quotes/zigman/30194416/composite 630.38 -7.23 -1.13%
BAC /quotes/zigman/190927/composite 16.36 -0.08 -0.49%
C /quotes/zigman/5065548/composite 53.28 -0.16 -0.30%
F /quotes/zigman/264304/composite 13.74 0.18 1.33%
T /quotes/zigman/398198/composite 33.29 -0.15 -0.45%
BP /quotes/zigman/247026/composite 33.26 0.23 0.70%
GE /quotes/zigman/227468/composite 25.16 0.15 0.60%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/3000986/composite DANG-3.30%
  • /quotes/zigman/109619/composite DLTR-0.08%
  • /quotes/zigman/87420/composite CVGW-2.10%
  • /quotes/zigman/219264/composite BCR+0.50%
  • /quotes/zigman/477947/composite XME+2.38%
X
Powered by StockTwits
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  • Personalized news and quote email alerts
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