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Traditional IRA Tax Deductions
Depending on your client’s tax situation and annual adjusted gross income, they may be able to deduct the full amount they contribute to a Traditional IRA. The 2025 contribution limits are $7,000 if you’re under 50 years old, and $8,000 if you’re over 50. The client has until April 15th to make a 2025 contribution and claim the deduction on their tax return.
The following video includes a simple example of a tax deduction for contributing to a Traditional IRA.
Reach out to me directly if you’d like to know how you can use the Crecer Connect platform to help your clients create a Traditional IRA.
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