Who's good with taxes and IRAs?

[tjbartjr 10+ year member]

Just for schitzngiggles, anyone know how much you'd have to contribute to an IRA before April 15th, 2009, in order to offset taxes due for tax year 2008? Is it a 1:1 ratio? Or something crazy? I owe the fed and the state... //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

Click to read more...

 

[97gp 5,000+ posts]

20098? //content.invisioncic.com/y282845/emoticons/wow.gif.23d729408e9177caa2a0ed6a2ba6588e.gif

ARE YOU FROM THE FUTURE?!?!?!?!?!?

 

[tjbartjr 10+ year member]

20098? //content.invisioncic.com/y282845/emoticons/wow.gif.23d729408e9177caa2a0ed6a2ba6588e.gif
ARE YOU FROM THE FUTURE?!?!?!?!?!?

Ha let that be a lesson kids: always proofread your work. And don't trust the spellchecker.

 

[fasfocus00 5,000+ posts]

well the most you can contribute is 5k but it's not going to offset anything that you owe it just changes your adjusted gross income.

 

[Skip01 5,000+ posts]

Flipx99 on here i believe is knowledgeable

 

[Flipx99 5,000+ posts]

You can contribute $5,000 to a traditional IRA, depending on income.