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April 21, 2014

Andrew Silow-Carroll: Passoverkill? Suggestions to make next year's seders even more culturally sensitive

Sara Israelsen Hartley: Seeking the Divine: An ancient connection in a new context

Christine M. Flowers: Priest's execution in Syria should be call to action

Courtnie Erickson: How to help kids accept the poor decisions of others

Lizette Borreli: A Glass Of Milk A Day Keeps Knee Arthritis At Bay

Lizette Borreli: 5 Health Conditions Your Breath Knows Before You Do

The Kosher Gourmet by Betty Rosbottom Coconut Walnut Bars' golden brown morsels are a beautifully balanced delectable delight

April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review

Don't Overlook the Retirement Savers' Tax Credit

By Kimberly Lankford






JewishWorldReview.com | You mentioned the retirement savers' tax credit in your article about President Obama's MyRA plan. How does this credit work, and who is eligible?


The credit is 10%, 20% or 50% of your contribution to a retirement account, depending on your income, up to a maximum of $1,000 per person or $2,000 per couple. You can qualify for the retirement savers' tax credit if your adjusted gross income in 2014 is $60,000 or less if married filing jointly, $45,000 or less if filing as head of household, or $30,000 or less if you're a single filer. To qualify, you must contribute to a traditional or Roth IRA (MyRA's count), 401(k), 457, 403(b) or other retirement-savings plan.


If you are married filing jointly, for example, the credit can be worth 50% of your contribution (a $2,000 credit for a $4,000 contribution) if your joint income in 2014 is $36,000 or less. The credit is worth 20% of your contribution if you earn $36,001 to $39,000 and 10% if you earn $39,001 to $60,000. Married couples can't qualify for the credit if they earn more than $60,000. See the IRS factsheet for a table showing the income cutoffs for each level of the credit for joint filers, heads of household and singles for both 2013 and 2014 returns (the income numbers are slightly lower for 2013).


To qualify for the credit, you must be at least 18 years old and not a full-time student, and no one else (such as your parents) can claim an exemption for you on their tax return. You can qualify for this credit even if you make pretax contributions to an employer's retirement plan or nondeductible contributions to a traditional or Roth IRA, or if you get other tax breaks for your retirement-savings contributions -- such as a tax deduction for a traditional IRA contribution.


Keep in mind that this is a credit, not a deduction, so it lowers your income tax dollar for dollar. It is a nonrefundable tax credit, however, which means it cannot reduce your tax liability below zero. See IRS Publication 4703 for more information about the credit.


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Complete IRS Form 8880 to determine the rate and amount of the credit, and file it with your income tax return. If you realize that you would have qualified for the credit in previous years but didn't claim it, you can file an amended return (Form 1040X) as far back as 2010 and still get the money. A 2010 amended return is due by April 15, 2014; a 2011 amended return is due by April 15, 2015; and a 2012 amended return is due by April 15, 2016. See Instructions for Form 1040X for more information about filing an amended return.


You still have until April 15, 2014, to contribute to an IRA for 2013 and qualify for the credit for 2013. See Often Overlooked Opportunities to Save in a Roth IRA for more information about Roth contributions if you're a nonworking spouse, retiree or freelance worker.

Sign up for the daily JWR update. It's free. Just click here.

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Kimberly Lankford is a Contributing Editor for Kiplinger's Personal Finance.



All contents copyright 2013 The Kiplinger Washington Editors, Inc. Distributed by Tribune Content Agency, LLC

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