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Preparing for Tax Day

March  17th, 2020

We are 30 days away from Tax Day April 15th (16th this year with the 15th on a Sunday) That means for people wanting to take advantage of contributing to their 2019 IRA for tax deductions. The contribution for 2019 will remain the same for 2020. People that are under the age of 50 can make a $6,000 contribution and the people that are 50 and over may make a $6,000 contribution and may also make a $1,000 catch up contribution for a total of $7,000. I want to also remind you that you might have a customer that has left a job and moved on to new things but maybe left the old 401K where it was with the former employer not knowing where or how to move the old 401K.

We can help you help your client with this. Now would be a good time to do this with the interest rates going down we have carriers that are
A-rated and very strong with some very competitive rates.


Scott Sandquist

Annuity Marketing Manager

I would also like to remind folks that the IRS is also thinking about extending the deadline to File taxes for 2019. As of Monday afternoon, there has not been an official announcement yet, but one is expected soon. I am not in any way giving tax advice or say wait. With the coronavirus issues, we are facing if the IRS does extend the filing deadline then we would need to get the contribution into the carrier by that day. Please watch our website for an update if the IRS does decide to do an extension. Don’t wait until the last minute if a change isn’t made because the rules are very strict about getting the contribution to the carriers on time.

Feel free to contact me with any contribution questions or deadlines to get the funds in.We have a lot of ways to help create safety for your client’s money. Remember that we have different products for different situations for the customer. We can help you make a plan to help the client accumulate and keep their money safe. We are here to help you find the best possible solution for your client. Please go to our web page and look at the events page and see all the different things that we can do to help you to learn how to work with annuities and get more comfortable with annuity lines.

Join Annuity Experts

March 24th we will be hosting a webinar for all agents interested in learning about annuities from carrier and industry experts. To join the list of agents attending…