Traditional IRAs Make Tax Sense For Some Filers

BANKRATE | on Thu, Mar 16, 8:00 PM

Taxes[1] ┬╗ Investment Taxes[2] ┬╗Eric Audras/Getty ImagesSaving money today for your retirement takes discipline, but you can enjoy immediate gratification in the form of a tax deduction with a traditional IRA. A big plus: You don't have to itemize.Younger than 50 Traditional IRA contribution limits20162017$5,500$6,500Age 50 or older$5,500$6,500But before the lure of lower taxes prompts you to open a traditional IRA, be aware that a contribution won't cut your tax bill dollar for dollar. Rathe...

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