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Another great vehicle for lowering your 2005 income tax bill—to say nothing of planning for the future—is contributing to a deductible individual retirement account (IRA). Unlike most other personal tax deductions, the contribution does not have to be made by December 31 of the tax year. The deadline to open and fund a qualified IRA or make an additional contribution to an existing IRA that can be claimed among your federal tax deductions is the due date of your return, not including any extensions. For 2005, that means April 17 (except in certain Northeast states that have until April 18 to file). Not all IRAs are deductible, so seek tax planning advice or read IRS Publication