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The IRA Tax Break Explained - Traditional IRA Tax Deduction

The IRA Tax Break can put $6,000 into your retirement account, and lower your taxable income by $6,000. Anyone, I repeat, ANYONE, can take advantage of the IRA Tax Break, regardless of if you’re self-employed or employed at another company. Subscribe: https://bit.ly/2HJlq46 Still, many people are not taking advantage of this simple tax break. And some of the people who are, are being surprised by a HUGE mistake they are making that are preventing them from taking this deduction. So stay tuned to find out how all of this works, how to avoid the mistake many people make, and ultimately knock off $6,000 from your taxable income. Watch My Updated Video Next! The BEST Self Employed Retirement Accounts (Full Guide) Prior Videos: Solo 401K:    • Solo 401K: Pros & Cons Fully Explaine...   SEP IRA:    • SEP IRA Explained: HUGE Tax Savings f...   Outline Intro: 0:00 What is an IRA?: 1:43 Traditional vs. Roth IRA: 2:00 The Traditional IRA Tax Break: 3:30 The #1 Traditional IRA Mistake!: 4:15 Interested in talking with someone from our team? Sign up to get notified when we are accepting new clients here: https://lyfeaccounting.com/coming-soon/ /// Disclaimer: The information provided in this video is for entertainment purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).