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Community: Investing Wiki

Term Of The Hour

IRA reduce taxes: Original post by Leslie McClintock of Demand Media You can reduce your current-year income tax bill with every dollar you contribute to a traditional IRA, provided you fall under the income limits described later. This is because IRA contributions aren't miscellaneous itemized deductions, which reduce taxes only if you itemize, and then only to the extent that your itemized deductions exceed 2…

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