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Contributing to a traditional IRA reduces your taxable income, lowering your tax bill for the year. However, withdrawals in the future will be subject to income tax, which means the decision to defer taxes now may not always be the best choice depending on future tax rates. Consider your overall financial picture to decide if deferring taxes today is the right move. I've just released a full length video where I answer the internet's best questions. Check out my YouTube channel for more👍 #IRA #
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