401K and RRSP tax deadlines coming up
For all the Canadian subscribers to the Peter Lynch Investor, here’s a gentle reminder to contribute to your RRSP before March 1, 2019.
Contributing to your RRSP is an easy and affordable way to invest. The government allows you to claim against contributions on your tax return. Claiming contributions is a great way to save on investing. For every dollar you contribute, you’ll get a percentage back on your tax return.
To get an idea of what you’ll get as a return check out this article on how to calculate an RRSP contribution return.
For Americans, the equivalent 401K has slightly different deadlines and varies depending on your employers tax cycle. Generally speaking, for 2019 the deadline is April 15th. Here’s a link to an article that describes the rules for 401K contributions.