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Revision as of 20:33, 24 August 2026

One more week until Tax Night out. Have you filed yours yet? I haven't (probably should aboard that, actually), considering the fact that I read in USA Today that roughly 47% of Americans won't even have to worry about paying federal income taxes, I start to wonder if I will even bother. Oh sure, there's the threat of prison time for tax evasion, but really, what's the point if half the damn country isn't going to fund up and jump off scot-free?

Obtaining a tax-deduction allows your contribution to be subtracted through the taxable income. A reduced taxable income means you pay less income tax in the year just passed you play a role in your Individual retirement account. So you end up extra in your IRA therefore less decrease in your pocket than your contribution.

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