Wednesday, February 3, 2016

There Are Limits to IRA Contribution Deductions and Some May Not Be Able to Be Deducted At All

Depending on your tax bracket and if you already contribute to a retirement plan (the box checked on your W2), you may not be able to deduct your IRA contributions. Remember IRA contributions limit for 2015 tax year is $5500 per person.

https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits

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