iStock/ThinkstockIf your employer offers a company-funded retirement plan, you’ve probably already heard about the benefits. If not, accountant Janice Hayman says now is a good time to pay a visit to your company’s benefits administrator.
“If you have not already set up your 401(k) plan with your employer, to maximize your contributions into that retirement account you should definitely do so as early as possible,” she says.
Hayman says most changes you make now can be deducted from your 2017 taxes, but there is an exception.
“IRA contributions are still open until April 15th, or in this case, April 18th this year,” she notes.
You can also consider getting a Roth IRA. Contributions to these accounts are never taxable but there are certain guidelines when it comes to income.
Hayman says talk to a tax professional to find the best fit for you.
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