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Clock ticking on 2009 IRA tax savings • Unsecured Holiday Loan
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The clock is ticking on 2009 IRA tax savings.

You have until April 15, 2010, to open and contribute to an individual retirement account (IRA) for the 2009 tax year.

IRAs are a smart way to save for retirement on a tax-favored basis. Traditional IRAs are funded with pre-tax dollars; earnings grow tax-deferred with taxes being paid upon withdrawal.* Traditional IRAs are available to everyone with no income restrictions. You may even be able to deduct your contribution on your current tax bill.**

A Roth IRA is funded with after-tax dollars and is available to single-filers making up to $95,000 or married couples making a combined maximum income of $150,000. With a Roth IRA, you cannot deduct your contributions. However, qualified withdrawals are tax-free if you hold the account for at least five years and are at least age 59½ upon distribution.***

Contribution limitations for 2009 and 2010 are $5,000 or earned income, whichever is less. Taxpayers age 50 and older can contribute an additional $1,000. You must have earned income to open an IRA, but non-income-earning spouses of income earners can open their own IRAs.

Save even more.
Endura Financial also offers extra savings on TurboTax^® software and Jackson Hewitt tax preparation services. Visit EnduraFinancial.com for your money-saving coupons today.

Good (Roth) news for 2010.
Prior to 2010, taxpayers with modified adjusted gross incomes above $100,000 and married taxpayers filing separately could not convert from a traditional to a Roth IRA. Effective January 1, 2010, anyone can convert to a Roth IRA. Ordinary income taxes will be due on the amount of the conversion, but if you convert in 2010, you may choose to split the tax bill between 2011 and 2012.

The new law does not eliminate the income eligibility requirements to open or contribute to a Roth IRA, but that doesn’t prevent you from opening a Traditional IRA and then converting it to a Roth.

Start saving today.
If you have questions about opening a Traditional or Roth IRA or converting to a Roth, contact Endura Financial Federal Credit Union at 1.800.533.4004 or visit EnduraFinancial.com. We can also work with you to incorporate rollovers from other IRAs or retirement plans.

*	Premature withdrawals are subject to a 10% tax penalty.
**	Deductibility depends on whether you or your spouse participates in an employer-sponsored retirement plan and, if so, your income.
***	Nonqualified withdrawals are subject to ordinary income tax plus a 10% penalty.
This financial institution does not give tax advice. Consult your tax advisor for information specific to your situation.

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Fun facts! FACT #1 Ticket prices to the 2010 Winter Olympics opening ceremonies will cost $150-$1,100 (Canadian).*	FACT #2 Approximately 2,500 athletes will compete in the 2010 Winter Games in Vancouver.*
* Source: www.vancouver2010.com

This publication does not constitute legal, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material. Images may be from one or more of these sources: ©Jupiterimages, ©Getty Images, ©iStock, ©Fotolia. ©2010 Endura Financial Federal Credit Union.

Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the National Credit Union Administration, a U.S. Government Agency.