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How the Saver’s Credit Can Help You Save for Retirement
(Source: Social Security Administration)
Saving for retirement can be difficult in the best of times, but even harder during a pandemic and challenging economy. An underutilized tax credit, known as the Saver’s Credit, may be able to make it easier.
In a nutshell, the Saver’s Credit is a tax credit that is intended to promote retirement savings among people who may find it hard to save. It is an additional benefit that goes beyond tax-deferred savings, and reduces your tax bill dollar-for-dollar by the amount of the credit. Continue reading here…
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