Tax day, April 15, 2010, is fast approaching. This is also the deadline to maximize your 2009 IRA (either traditional or Roth). For 2009, the maximum amount that may be contributed to a traditional or Roth IRA for the 2009 year is $5,000 for those under the age of 50 ($6,000 for those age 50 and over), or the amount of your taxable compensation, whichever is less.
There are certain restrictions on income levels when claiming the IRA deduction, so please consult your tax advisor. Information is also available in the article 2009 IRA Contribution and Deduction Limits on the IRS web site.