How can I open a routh Ira before april15 to reduce the taxes I owe.

Trying to reduce the taxes I owe

posted

You do have up until April 15 of 2025 to open an IRA for the 2024 tax season, but a Roth IRA will not reduce your tax liability, since the contributions to a Roth IRA are not deductible. If you contribute to a traditional IRA your contributions may be deductible, depending on your income and whether you have a retirement plan through your employer.

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