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Can I reduce my tax bill by contributing to my 403(b) at work?
We have a large tax bill this year. Both my husband and I have retirement plans at work and also add to his traditional IRA. We aren't getting any credit for the IRA contributions because we are just over the MAGI. I am not contributing to my account right now (my employer does automatically), if I do add more to retirement would that lower our tax bill for next year? I'd rather put money in retirement than just pay taxes.
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March 19, 2021
5:23 AM