How much does IRA Save you on taxes?
How much an IRA could save you. For tax year 2018, you can contribute up to $5,500 to an IRA, or an additional $1,000 as a catch-up contribution if you’re 50 or older to $6,500. If you meet certain requirements (explained below), you can deduct the full amount from your income, meaning you won’t owe taxes on the amount you put into the account.
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