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Message: From GoLocalWorcester by Dan Forbes, GoLocalWorcester MINDSETTER™: April 15th is almost here, but there’s still time to fund a traditional IRA, a Roth IRA, or a non-deductible IRA. Contributions are limited to $5,500 for those that have earned at least that much and are under the age of 50. For those 50 and over, the limit is increased by $1,000. Married couples may see the deductibility of their Traditional IRA contributions phased out as their MAGI (Modified Adjusted Gross Income) increases. There is no income limit for converting an IRA to a Roth, allowing those above the allotted MAGI to make non-deductible IRA contributions followed by a Roth conversion. http://www.golocalworcester.com/business/friday-financial-five-april-11th-2014
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