The 2018 Saver’s Tax Credit: Free Money to Save for Retirement (Seriously)
There are several types of retirement accounts that could get you a tax deduction for your contributions, such as traditional IRAs and 401(k)s. While this is certainly a nice benefit, there's another tax benefit for retirement savings that many people aren't aware of -- the Retirement Savings Contributions Credit, or "Saver's Credit."
The Saver's Credit is designed to give low- to moderate-income taxpayers an incentive to save for retirement, and it could be worth up to $1,000 per year if you qualify.
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Source: Fool.com
