I'm 54, spouse 55. Our agi is $246000. Married filing jointly. Can we reduce the amount we owe by contributing to an ira?

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It depends- mainly on if either of you were covered by a plan at work. See IRA deduction limits for a chart so that you can find your correct designation.

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I worked in both Massachusetts and New York, while my wife worked solely in Massachusetts for the entire year. Since we are filing our federal taxes as "Married Filing Jointly," how should we file our state taxes?

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I'm 54, spouse 55. Our agi is $246000. Married filing jointly. Can we reduce the amount we owe by contributing to an ira?

I'm 54, spouse 55. Our agi is $246000. Married filing jointly. Can we reduce the amount we owe by contributing to an ira?

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I'm 54, spouse 55. Our agi is $246000. Married filing jointly. Can we reduce the amount we owe by contributing to an ira?

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I'm 54, spouse 55. Our agi is $246000. Married filing jointly. Can we reduce the amount we owe by contributing to an ira?

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