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IRA
Individual
Retirement Account. Anyone can establish an IRA. This is a retirement
account that is funded through after-tax dollars and all income grows
tax deferred until withdrawn. A deductible IRA allows a $2,000 deduction
from income to reduce your current tax burden. Deductions are based on
your income level. New changes allow you to contribute to an IRA even
if you or your spouse has another retirement plan.
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