Should we put money into an ira ? will it reduce our federal payment due?

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Should we put money into an ira ? will it reduce our federal payment due?

Contributing to a deductible IRA will reduce your AGI and tax liability. Input an IRA contribution into your return and see what, if any, difference it makes in your situation.

Should we put money into an ira ? will it reduce our federal payment due?

You'll be a lot happier in retirement with a Roth IRA that is totally tax-free

rather than a Traditional IRA that is taxed and makes your social security taxed also.

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