IRS Extends Tax Deadline: What This Means For You

If you or your employees have yet to contribute to an IRA or Roth IRA for 2020, the IRS has bumped the tax filing deadline to May 17, 2021. This means you now have an extra month to do so. Regular IRA contributions are considered pre-tax contributions, meaning they could reduce your overall tax burden for 2020. Roth IRA contributions are not tax free now, but any withdrawals will be tax free in the future.

Financial wellness for your team is all about planning now for the future and finding the right balance between today’s wants and needs and future security.

Written by: Your Financially Fit Employees Team