Tax Breaks From the IRS? Sign Me Up
It's not often that Uncle Sam lends you a helping hand in the form of a tax break, but retirement accounts are one of those rare occasions. The key to ensuring you're financially comfortable in retirement is starting early and taking advantage of time. If you're going to be saving and investing for retirement -- and you absolutely should be -- you might as well get some tax breaks along the way.
Individual retirement accounts (IRAs) are the gifts that keep on giving, and you should make it a point to utilize them throughout your career. Although the maximum annual IRA contribution allowed is relatively small at $6,000 ($7,000 if you're 50 or older), the rewards from the tax breaks can pay off big time.
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Source Fool.com
