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Are IRA contributions deductible from self-employment taxes?
Do IRA contributions reduce my business income so as to reduce both federal income taxes and SS/ Medicare taxes?
June 6, 2019
6:33 AM
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Retirement tax questions
No. Deductible IRA contributions reduce your AGI, but not your business income. So they reduce your income tax, but not your self-employment tax.
June 6, 2019
6:34 AM