Every dollar counts when you’re talking about your future, and it’s important you know all the ways you can maximize your Self-Directed IRA. But ensuring you’re maximizing your IRA through yearly contribution starts with understanding all the deadlines. Different accounts have different rules and being familiar with these upcoming important dates will help make sure you meet all your required IRA deadlines.
One of the most important dates you should be aware of is Tax Filing Deadline, which is quickly approaching. The good news is there’s still time to make your 2021 contributions! This year, Tax Filing Deadline is extended until April 18th, 2022. Usually, April 15th is the last day to make yearly contributions, but in recognition of Good Friday and Passover, Tax Filing Deadline has been extended to the next business day, Monday April 18th, 2022.
How Can I Make a Contribution?
There are three ways you can send your contributions, and please remember that contributions must be made in cash. You can contribute to your IRA via wire, ACH, or check. If you send a check, those will need to be sent to our Houston office at 17171 Park Row Ste 100 Houston, TX 77084 and postmarked by April 18th. And, as always, make checks payable to: Quest IRA, Inc. FBO “Client Name” IRA “Account #”. Please be aware that if you are sending in your contribution for 2021, please specify which tax year it is for so our Accounts Receivable team is aware of the correct year when allocating your funds.
Why Should I Make a Yearly Contribution?
When you make contributions to certain accounts, you receive tax benefits, like tax deductions and tax-free distributions. Accounts like Traditional IRAs give you tax deductions when you make contributions. Other accounts like the Roth IRA help the money you contributed grow TAX FREE. Additionally, you have the opportunity to put your money to work and watch it grow. Contributing to your Self-Directed IRA means you have more money to work with when you’re investing! The more deals you can do, the more money you can make.
The earlier you begin making IRA contributions, the longer your money can acquire compound interest. Contributing every year helps your Self-Directed IRA grow faster. By contributing to your account, you’ll be on the path to creating future wealth.
Other Quest Dates You Should Know About!
Right now, we have a special promotion going on for those who are ready to open an account. From March 14th – 20th, we are putting the money back in your pocket when you open an account by crediting your account once you make a contribution or do a transfer or rollover. We’ve called this promotion our Texas Two Step!
The way it works is you open an account with the $100 account opening fee, you initiate a transfer, rollover or make a contribution. Once your funds are in your account, you receive a $100 credit back to your account. With this promo, we want to reward you for taking the steps towards maximizing your Self-Directed IRA! Get more information on our website.
At Quest, we make it easy for you to get access to everything you need to make your tax season a breeze. Stay up to date with reporting requirements, contribution limits, and important dates with our Contributions Ebook. You can find all the information you need to ensure you maximize your self-directed accounts before the Tax Filing Deadline.
Your IRA is one of the most important tools you have when planning for the future. Don’t wait until it’s too late. Be sure to make your contributions before April 18th so you’re not left wishing you’d started sooner, unable to make up the lost time. If you have questions, you can email us at IRASpecialists@QuestTrust.com or give us a call at (281) 492-3434.