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A little (legal) tax trick?
For those of us past college... maybe WAY past college... and working on funding retirement, there is a little trick that is perfectly legal.
This may not apply to everyone. This scenario assumes the following conditions:
1. you have a traditional IRA
2. can deduct the contributions to the IRA
3. and will be getting a refund. Sounds a little restricted, but it really isn't.
You can do your taxes, taking the IRA deduction although you have not actually made the deposit yet. File those taxes early! When the refund comes, you use it to fund the IRA. For me, the additional tax deduction just about pays for the IRA contribution.
ETA: Just be SURE to fund the IRA by April 15 !!!!
Last edited by thetalady; 04-15-2004 at 01:58 PM.
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