Dr. Friday reminds taxpayers they can still fund a traditional or Roth IRA up to tax day. She explains that the best choice depends on long-term planning, not just this year’s deduction.

Transcript

G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.

You can still put money into a Roth or a traditional IRA until tax day, and it may be something you want to think about.

Now, I am not a financial planner, so I’m not going to tell you it’s going to save you tax dollars or not, because I don’t know.

Every time we can put a few dollars aside and save tax dollars, it might be a good idea. But sometimes it may be better just to do Roth, let the money grow tax-free, and not worry about saving taxes today.

These are decisions you need to make. Your best bet is to contact an actual financial planner. They will then make up a plan and help you figure that out. But if you need help on the tax side of things, just go to my website and send me a note at drfriday.com.

You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.