Financial Information
Is there a IRA calculator to see how much I can invest for a tax deduction.?
Question : Is there a IRA calculator to see how much I can invest for a tax deduction.?
Married couple, 115k, filing jointly, and owed $ 7k last year, looking to use IRA as a way to reduce paying fed and CA state taxes, we have no other deductions other than standard deduction.
ira calculator
Best answer:
Answer by zkay69
You may want to check on Suzy Orman.com, this is a good website for financial advise.
your tax professional can tell you. it depends on your age, income and whether or not each of you is a participant in a qualified plan through your employer. irs.gov is a great reference.