Did you realize that you’re taking a small loan from the IRS each time you contribute to your IRA or 401K?
Well, are you contributing to a tax-qualified plan, like an IRA or 401(k), as a way to save for retirement?
Millions of Americans are, every payday. This is slowly and steadily creating several ticking tax time bombs for you, just waiting to go off in retirement, or sooner in some cases. If you’re tired of borrowing from the IRS and don’t want the burden of a tax lien on your retirement accounts, read on.
Your Tax Deductions are a Loan
Here’s a secret.…