Make the most of IRA contributions and deductions

Description

Abstract: Individuals can both boost their retirement savings and cut their tax bills for 2018 by making additional contributions to traditional Individual Retirement Accounts (IRAs). This article explains that, if individuals make contributions during the year before their tax returns are due, they may be able to deduct some, or all, of the contributions from their taxable income. In addition, the article points out that deadlines and reporting are important in ensuring people make the most of any possible contributions and deductions.