AznMaverick
Platinum Member
I read the sticky tax post but it says they don't answer tax questions....
This year i would have my first full-time job, my starting salary is about $50k. To reduce what i owe, and optimize how much i can save for later in life, a coworker told me i could put money into an IRA and deduct for taxes. My question is what is the maximum amount per year? Also how much of the invested IRA amount can i deduct from my '06 taxes?
This year i would have my first full-time job, my starting salary is about $50k. To reduce what i owe, and optimize how much i can save for later in life, a coworker told me i could put money into an IRA and deduct for taxes. My question is what is the maximum amount per year? Also how much of the invested IRA amount can i deduct from my '06 taxes?
