Contribute to an IRA….not!
Once again, the brains at many local news outlets look at seriously crazy ways to lower your taxes that really have little or no effect.
One of the easiest ways is to contribute to an IRA account. Not a Roth IRA, just a regular IRA. Most people can only contribute about $600 which only equates to about $75 in tax savings.
So the advice is take $600 that you probably don’t have and invest that to save $75.
Not good advice at all. Just simple dumb things to fill newspaper columns.
Spending money to save a small percentage is never a good idea.
If you want to learn how you can take money that you are already spending and turn that into tax deductions CLICK HERE
Cheers
Steve
