Your Money Matters: Mike Ruggiero’s tax filing tips

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Michael Ruggiero

New Home Office Deduction Rules
Multiply square footage of home office by $5. There is a cap of 300 square feet. Maximum deduction of $1,500

Same Sex Married Couples
Will be treated as married for all federal income tax purposes.

2013 IRA Contributions
Generally you have until April 15 to contribute $5,500 ($6,500 if age 50 or older) to a traditional or Roth IRA for 2013.

Filing For An Extension
Use IRS form 4868. It gives you an additional 6 months.

Ameriprise Financial Services