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It's never too early to begin preparing for your retirement and one of the best ways to prepare is to set up an Individual Retirement Account (often referred to as an IRA). The purpose of an IRA is to serve as a personal tax-qualified retirement savings plan. Anyone who works, whether as an employee or self-employed, can set aside a set amount in an IRA, with the earnings on these investments tax-deferred until the date of distribution. In addition, certain individuals are permitted to deduct all or part of their contributions to the IRA.

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It doesn't take much to set up an IRA. The trustee (or custodian) can be a bank, mutual fund, brokerage house or other financial institution. You cannot be your own trustee. An IRA can be established and a contribution made after year-end, no later than the due date for filing the income tax return for that year, not including extensions. This generally means that you have until April 15th of the following year to make the contribution and deduct it on your tax return. The most you can contribute to an IRA in any single year (as of 2006) is the smaller of $4,000 or an amount equal to the compensation includible in income for the year.

 

Data Backup Is The Best Data Protection

The 3 Steps To A Successful Backup System .Every small business has data that needs to be protected, such as customer records, marketing plans and accounting ledgers. Much of this data is computerized, which one would think would make the archiving and backup of business data easier. But for many businesses, data protection is very much a hit or miss affair, done sometimes or not at all.

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Before You Buy Backup Software

Backup software can simplify the task of backing up your data by automating the backup process. But like any other software, some backup software programs have more features than others. Here's what to look for (and what to avoid) when you're buying backup software...more

 

 

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