  Carlo Della Mea is a financial consultant in Boca Raton for Gilman Ciocia, Inc., a provider of tax and financial planning services. Securities offered through Prime Capital Services, Inc. Member FINRA/SIPC. Gilman Ciocia and Prime Capital Services are affiliated entities. For information, call 561-361-7300 or visit www.gtax.com.
Haven’t Filed Your Taxes Yet? Here are some incentives to do the inevitable…Tax season is now in full swing! There are many tax savings opportunities currently available to help taxpayers through the inevitable: filing income tax returns! Some of the following benefits and opportunities may apply to you:
•There is still time to contribute to your IRA. The deadline is April 15, 2009 and you can contribute up to $5,000 to your traditional or Roth IRA.
•The Retirement Savings Contribution Credit is a tax credit for eligible people who contribute to an individual retirement account (IRA) or an employeesponsored retirement plan. The tax credit is calculated based on a percentage of your retirement contributions up to $2,000. The percentage is determined by your adjusted gross income and your filing status. Talk to your tax professional to see if you meet the criteria.
•The IRS lets you deduct medical costs as long as they are more than 7.5 percent of your adjusted gross income. Medical bills for you, your spouse and your dependents count toward reaching the allowable deduction limit.
Paying less taxes is the same as making more money! To learn more about these and other important tax savings opportunities, Gilman Ciocia offers monthly tax workshops, free-of-charge in the Boca Raton area, and other areas of South Florida. To sign up, please call 1-800-TAX-TEAM or visit www.gtax.com/seminars.
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