IRS APPROVED ERO SERVING ALL 50 STATES
RAPID REFUNDS - TAX REFUND LOANS - VERY LOW FEES
OVER 15 YEARS EXPERIENCE
IRS APPROVED ERO SERVING ALL 50 STATES
RAPID REFUNDS - TAX REFUND LOANS - VERY LOW FEES
OVER 15 YEARS EXPERIENCE
HOW ABOUT PUTTING MONEY IN YOUR POCKET THAT WILL BE LOST... "GIVEN" TO THE IRS?
Having income "TAX DEFERRED" will reduce your current year's OVERALL TAX LIABILITY.
TRADITIONAL IRA INFORMATION
The information contained herein regarding IRA's, deferring taxable income, and investing was taken from the official Wells Fargo website found at https://www.wellsfargo.com/investing/retirement/ira/traditional-or-roth-ira/traditional/. We are not affiliated nor represent Wells Fargo in any capacity. The information contained is for example and explanation purposes only. For more information and to open an IRA, parties are encouraged to contact Well Fargo or any financial institution of their choosing; to discuss financial matters with a licensed financial advisor or attorney if seeking Financial legal advice.
Benefits and Why invest in an IRA?
IRAs allow you to save for retirement and potentially take advantage of tax benefits. Depending on which IRA you choose, your tax benefits could include:
- Tax-deferred accumulation
- Contribution deduction
- Tax-free distribution
A Traditional IRA offers tax-deferred growth potential. You pay no taxes on any investment earnings until you withdraw, or “distribute,” the money from your account, presumably in retirement.2
You can contribute to a Traditional IRA regardless of your age, as long as you, or your spouse, if filing jointly, have earned income, but your contribution may not be fully deductible. Your ability to deduct contributions generally depends on your participation in a workplace retirement plan (WRP)3 and your income.
- If you and your spouse, are not covered4 by a WRP, you can fully deduct the amount of the Traditional IRA contribution you are eligible to make.
- If you are covered4 by a WRP, deductions are phased out based upon Modified Adjusted Gross Income (MAGI)
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