Irissy said:Wicked, what's the deadline to put in money for Roth IRA to have it count towards the 2005 income tax? Is it before we file taxes this April?
You can open a Roth at anytime. However, contributions for a tax year must be made by the IRA owner's tax-filing deadline, which is generally April 15 of the following year. So yup, put in $4k for 2005 before April 15, and you're set. While you're at it, throw some money for 2006 in there too.
Btw, the max contribution for 2005 and 2006 is $4k. And it doesn't have to be put in all at once.