There’s still time!

…to contribute to an IRA for tax-year 2013.

Above view of consultant analyzing data with her client

Still haven’t made your IRA contribution for tax-year 2013? No worries. You have until April 15 to make contributions to either a Traditional IRA or a Roth IRA, so there’s still time to set aside up to $5,500 ($6,500 if you’re age 50 or older) in one of these popular retirement savings vehicles.

With a Traditional IRA, if you’re not covered by a 401(k) or other employer-sponsored retirement plan, you can typically deduct the full amount of your contribution and enjoy the immediate benefit of a tax deduction. Otherwise, your ability to deduct some or all of your contribution depends on your filing status and income.

A Roth IRA is a little different. Whether or not you can contribute depends upon your filing status and income. If you do qualify, Roth IRA contributions are not tax-deductible, so there will be no immediate 2013 tax benefit. However, distributions are generally free from Federal income tax when withdrawn after age 59 ½, which could serve you well if you expect your future tax rate during retirement to be higher than your current rate.

Regardless of which IRA option you choose, we can help you make sense of it all. But hurry—April 15 is fast approaching! Speak with a CFS Financial Advisor* at NASA FCU today by visiting us at nasafcu.com/investmentservices, or by calling 301-249-1800 or toll-free at 1-888-NASA-FCU (627-2328), ext. 314.

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. NASA Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

CUSO Financial Services, L.P. (CFS) and its Registered Representatives do not provide tax advice. Clients should obtain their own independent tax advice from a qualified tax professional.