1) Contribute the Maximum to Retirement Accounts Although the elective deferral limit for 401(k) and similar plans was increased to $17,000 for 2012, IRA contribution limits remain the same as 2011, at $5,000. IRA owners 50 or older by December 31, 2012 can contribute an extra $1,000 for a total of $6,000 and plan participants [...]

As a shaky 2011 comes to a close, there is still time to bolster the bottom line by trimming your 2011 tax bill. Although there are significant tax debates going on at this time in Washington, there is very little chance that the tax brackets will change in 2012. Therefore, if you believe you will [...]